Today I spent my morning in Westminster, not Edmonton as is my usual routine. It was a big day for cooperative societies and I was in the chamber to co-sponsor the Cooperative and Community Benefit Societies and Credit Unions Bill which sets out why cooperatives are so relevant in the 21st century and why the laws should be reformed to allow them to have greater integrity.
Many low income families find that credit unions provide a safe alternative to loan sharks. This is particularly important now given the financial downturn. And, in every sector of society, people are welcoming the ethical stance adopted by the cooperative retail sector, given their sense of social responsibility, their commitment to fair trade, and local community sponsorship.
Cooperatives are becoming a powerful new entity and are offering people a real alternative and I hope that we can support their transition with fair reforms to the laws governing them.
Friday, April 24, 2009
Wednesday, April 22, 2009
Homeowners Mortgage Support Scheme
Just a quick post to let you know about an announcement made yesterday by the Government which will enable borrowers who suffer a temporary loss of income to cut their mortgage interest payments for up to two years to help them get back on track with their finances.
As of yesterday, the following major high street lenders are offering their customers Homeowners Mortgage Support:
Lloyds Bank Group (which includes Halifax and Bank of Scotland)
Bradford and Bingley
Northern Rock
Royal Bank of Scotland (which includes NatWest and Ulster Bank)
Cumberland Building Society
and the National Australia Bank Group (which includes Clydesdale and Yorkshire Bank)
A number of other banks and building societies have also agreed that they will offer their customers Homeowners Mortgage Support or an equivalent arrangement as soon as possible so it's worth speaking to your mortgage provider even if they're not on the list above if you're having difficulties making payments, rather than risk reposession.
Money advisers trained to deliver Homeowners Mortgage Support advice include: Citizens Advice, Shelter, CCCS, National DebtLine and Payplan.
As of yesterday, the following major high street lenders are offering their customers Homeowners Mortgage Support:
Lloyds Bank Group (which includes Halifax and Bank of Scotland)
Bradford and Bingley
Northern Rock
Royal Bank of Scotland (which includes NatWest and Ulster Bank)
Cumberland Building Society
and the National Australia Bank Group (which includes Clydesdale and Yorkshire Bank)
A number of other banks and building societies have also agreed that they will offer their customers Homeowners Mortgage Support or an equivalent arrangement as soon as possible so it's worth speaking to your mortgage provider even if they're not on the list above if you're having difficulties making payments, rather than risk reposession.
Money advisers trained to deliver Homeowners Mortgage Support advice include: Citizens Advice, Shelter, CCCS, National DebtLine and Payplan.
Up with the lark
It was an especially early start for me today with a 7.10am appearance on BBC London radio's breakfast show with Joanne Good and Paul Ross. I was on to talk about what I thought would appear in today's Budget. You'll be able to "listen again" to it here but if you're around at 12.30pm today you'll be able to listen live to the Chancellor telling us what's actually in the Budget, which might be more productive. It's a big day for Alistair Darling.
Tuesday, April 21, 2009
Today's Guardian - Budget priorities
In today's Guardian I've added my name to a letter in support of the Chancellor using the Budget tomorrow to recognise the important work that community development finance institutions (CDFIs) have been doing for the last decade. CDFIs provide loans to small businesses, social enterprises and individuals in deprived communities. Any future investment directed through them by the Government could quickly be used to lend to so many more deserving groups - with a guaranteed return. CDFIs have an important role to play in helping communities emerge stronger from the economic downturn and I'd like to see them gain the recognition they deserve.
Thursday, April 16, 2009
Train spotting
I've had a little break from blogging over Easter but I'm back in action now and readying myself for the Budget next Wednesday.
This is just a quick post, which will hopefully please the commuters in my constituency who use the overground rail services into and out of Liverpool Street station. The Department for Transport has announced that funding will be provided to the National Express East Anglia train operator so that an additional 188 carriages can be added to their fleet. This will mean that for those of you using Silver Street, Edmonton Green, Bush Hill Park, Angel Road and Ponders End stations across Edmonton, you'll be seeing longer trains at peak times from December 2009 onwards. Hopefully this will put an end to cramped commuting. It's progress. The next thing to tackle will be ensuring the Oyster Card system is fully operational at all our stations too.
This is just a quick post, which will hopefully please the commuters in my constituency who use the overground rail services into and out of Liverpool Street station. The Department for Transport has announced that funding will be provided to the National Express East Anglia train operator so that an additional 188 carriages can be added to their fleet. This will mean that for those of you using Silver Street, Edmonton Green, Bush Hill Park, Angel Road and Ponders End stations across Edmonton, you'll be seeing longer trains at peak times from December 2009 onwards. Hopefully this will put an end to cramped commuting. It's progress. The next thing to tackle will be ensuring the Oyster Card system is fully operational at all our stations too.
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