Information on Loughborough

Andy Reed MP welcomes support from MPs on Private Members Bill

Posted on 28/04/09
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Andy Reed, MP for Loughborough has welcomed support from MPs for a Private Members' Bill that will improve the law that governs cooperatives and credit unions. The Bill had its second reading in the House of Commons on Friday 24 April and was backed by a majority of MPs, so will now progress to Committee stage.

The Co-operative and Community Benefit Societies and Credit Unions Bill is being sponsored by Malcolm Wicks, MP for North Croydon and co-sponsored by Andy Reed.

Andy Reed said:

Im delighted that MPs have backed the Bill, for too long co-operatives and credit unions have not been able to compete on a level playing field with other companies.

The reforms in this Bill are vital to reverse that trend. The success of the Bill demonstrates our high regard for co-operatives and credit unions and will help to protect co-operatives and credit unions for generations to come.