PARLIAMENTARY EARLY DAY MOTION
FUTURE OF THE NATIONWIDE BUILDING SOCIETY (27 April 1998)

That this House regrets that the Nationwide Building Society has again been forced to ballot its members on its future as a mutual so soon after the last attempt to convert the society to a bank was rejected by its membership; recognises that building societies are widely trusted by consumers, and notes that they provide essential diversity on the high street, accounting for a growing share of the market; further notes that, as they do not have to pay dividends to external shareholders they can offer cheaper mortgages and better returns on savings; and urges the members of the Nationwide Building Society once again to vote to retain its mutual status.

Sponsored by:
Mr Andrew Love (Labour)