Eurozone Financial Assistance

Mark Reckless Excerpts

Tuesday 24th May 2011 Commons Chamber

[Mark Reckless]

So the Treasury agrees that this is unlawful, but it is not going to do anything about it.

In the debate, it was suggested that these bail-outs were a rounding error. My constituents do not believe that £500 per household is a rounding error. It was also suggested that perhaps these moneys are going to be paid back and there will not be defaults. Well, if Members believe that, why do they not invest their own money rather than that of their constituents? My hon. Friend the Member for South Northamptonshire (Andrea Leadsom) said that it would be possible to get a return of 50% or 100%. Does not that suggest that we will not be getting our money back?

Today Members face a choice. If they believe that it is sufficient to urge the Government to raise the issue, then vote yes to the amendment regrettably tabled by my hon. Friend the Member for Daventry (Chris Heaton-Harris). If they believe that we need to put a stop to these bail-outs and say, “Enough is enough, it is our money, we did not join your currency, and we want our money back”, then vote no to the amendment. I am disappointed to hear that Opposition Members will not be joining us in the Lobby on this occasion. The hon. Member for Nottingham East (Chris Leslie) put his position honourably; perhaps one day he will have a leader who will lead. For now, however, the position is that these bail-outs continue and our constituents’ money is being thrown away—good money after bad.

This is an opportunity for Members of this House to stand up, to look our constituents in the eye, and to say that we voted no to the bail-outs. Please vote no to the amendment.

Question put, That the amendment be made.