Support For Friendly Societies

EDM number 1840 in 2001-02, proposed by Joan Walley on 30/10/2002.

That this House recognises the valuable work carried out by friendly societies in providing access to financial services for those in socio-economic groups C and D; welcomes the aim of the Sandler Review of Medium and Long Term Saving in the United Kingdom to extend such access to the financially excluded; seeks to ensure that no action be taken in the context of implementing the review or otherwise which might damage friendly societies' ability to continue to serve their objectives; and urges the Treasury to further consult with the Association of Friendly Societies in respect of recommendations relating to the abolition of the qualifying regime so as to preserve the special tax exempt scheme.

This motion has been signed by a total of 60 MPs.