Compass

£20,269 (2009/2010) for a study on banking systems

Towards regional aspects of a study and follow-up action, drawing on the story of the collapse of Northern Rock plc and examples of other demutualised building societies to examine the scope for re-mutalisation and/or alternative banking systems, especially those which could benefit poorer people and disadvantaged communities.

After prominent coverage in the Newcastle Journal on November 4th 2010, the study ‘Banks We Can Believe In’ was launched on 5th November at a well attended meeting at the Northern TUC in Newcastle, which was addressed, among others, by Helen Goodman MP for Bishop Auckland. This was followed by a meeting at the Houses of Parliament on 24th November, at which Treasury Select Committee member Chuka Umunna MP spoke about the issues dealt with in the report. These were also extensively covered in a Treasury debate in the House of Commons on 21st December. The report and further updates are available from Compass.

© The Millfield House Foundation 2010. Registered Charity No. 271180.