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Bill: Nationalise All Banks, Prevent Exploitation By The Rich Act
Details
Submitted by[?]: Unsubmissive Beluzian Workers Party
Status[?]: passed
Votes: This bill proposes the withdrawal from a treaty. It will require half of the legislature to vote in favor[?]. This bill will not pass any sooner than the deadline.
Voting deadline: August 4299
Description[?]:
| Nationalisation is the process where the government takes over a monopoly or another sector to operate them in favour of the public and not the oligarchs. Currently, our banking sector is a competitive monopoly, and we have multiple private banks that offer the same services to the people of Beluzia. The problem with private banks is that they don't always have the people's interests at heart. All they look for is profit and profit and they continuously sell more of their services to their clients so that investment advisors are motivated to put one into bank products. Advisors who are under suitability standard make sure that the investment plan that they propose to the client is 'suitable' (but not necessarily the best). This then causes clients to lose money or be scammed because most investment plans either don't give the clients anything, or they are shady plans that are in fact stealing money from clients through the use of fake accounts. Furthermore, privatisation is the worst type of economic model. Privatised companies no longer operate in the public interest. Why? The primary goal of a privately operated company is to make profit. It may make these profits at the expense of its customers without serving them properly. For example, it may choose the market which is most profitable to operate in and leave less wealthy customers without a service. Our failed banking policy has caused many privatised banks to exploit their many clients, leaving many filing for bankruptcy and in extreme cases, unemployed, because their money has either been stolen or scammed by the private banks. This is why the banking sector is in desperate need of reform. Banks are supposed to help the public, not work against them. That is why we are proposing a complete nationalisation of our nation's banks and the shutting down and prosecution of private banks. A nationalised bank will: -Mean a public takeover, which means the government or Treasury functions as the bank's source of credit. Funds would be channeled for productive enterprises. Small businesses and lower and middle class households can expect an easing of the heavy debt burden they face as a result of the lending practices of private banks. -The top management personnel of a bank that is taken over is replaced by government appointees who are committed to implementing policies and practices aimed at restoring solvency and public confidence in such institutions. -There will be an increase in lending to specific sectors. Credit has been targeted to economically or socially deprived sectors leading to more inclusive banking. -Protecting depositors, replacing inefficient or corrupt top management, and ensuring the institutions return to stable and profitable operations This is something that Beluzians have been wanting for the past several years, but the obstruction of conservatives and fake progressives have prevented Parliament from passing such a law. Now the wait is over and if passed, this law will usher in a new era of stable banking and economic policy for Beluzia, away from the old era of unstable banking and economic policy. We ask all parties to support our plan in nationalising banks |
Proposals
Article 1
Withdraw from the Taixi Progressive Trade Accord (TPTA).
Article 2
Proposal[?] to change The banking system.
Old value:: The government operates a central bank and all other banks are private.
Current: The government operates a central bank and all other banks are private.
Proposed: The government operates and owns all banks.
Debate
These messages have been posted to debate on this bill:
| Date | 17:37:42, November 06, 2017 CET | From | Labour Republican Party(LRP) | To | Debating the Nationalise All Banks, Prevent Exploitation By The Rich Act |
| Message | NO! |
| Date | 23:32:55, November 06, 2017 CET | From | United Party | To | Debating the Nationalise All Banks, Prevent Exploitation By The Rich Act |
| Message | "We will vote no on this bill if it proceeds." |
| Date | 00:56:44, November 07, 2017 CET | From | New Beluzian Alliance | To | Debating the Nationalise All Banks, Prevent Exploitation By The Rich Act |
| Message | This is a plot by the Worker's Reform Front to turn this place into a communist hellhole. This must not be tolerated! |
| Date | 01:07:06, November 07, 2017 CET | From | Beluzian Party | To | Debating the Nationalise All Banks, Prevent Exploitation By The Rich Act |
| Message | We only support because of the treaty withdrawal. |
| Date | 10:28:27, November 07, 2017 CET | From | United Party | To | Debating the Nationalise All Banks, Prevent Exploitation By The Rich Act |
| Message | “United Party will abstain on this bill.” |
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Voting
| Vote | Seats | |||
| yes |
Total Seats: 432 | |||
| no | Total Seats: 80 | |||
| abstain |
Total Seats: 238 |
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