Abbey National And Hmg High Interest Rates Policies

EDM number 544 in 1989-90, proposed by Jimmy Wray on 15/02/1990.

That this House finds Abbey National's decision to increase mortgage interest up to almost 1 per cent. appalling; blames this decision on the 10 years of Thatcherism and, in particular, on the misguided policies of high interest rates; is aware that the inflationary pressures which affect our very unstable economy are the result of structural deficiencies such as very low level of investment, inadequate training systems, obsolete management practices and absence of industrial democracy; sees the high street boom and its consequences as simple manifestations of the structural economic failures, not as the root of the problem; concludes that any policy designed only to tackle such a particular problem will do nothing to really bring down inflation, as has been obvious for a long time, and only produces the misery of high mortgages for low income families, repossessions and defaults; believes that, since the Government show themselves to be totally incompetent and unable to listen, the good of industry, of the people and of the country demands that they go.

This motion has been signed by a total of 23 MPs, 1 of these signatures have been withdrawn.