Enforcement of Bank of England Act 1694 retabled as EDM 597
The Bank of England Act 1694 was written when the Bank of England was founded to create £1.2 million from nothing and lend them at 8% to William III to finance his war against France.
Section XXVI was written with the intention not to “seriously oppress Their Majesties subjects by the corporation not to trade“. A fine of three times the value of abusive trading is foreseen.
Nowadays, the Bank does not only trade extensively, but keeps creating money from thin air and supervises all other banks that trade extensively with Dishonest Money.
EDM 1297 spelled it out for the last Parliament before the election.
EDM 597 repeats our request to “tackle the serious oppression of HM subjects”.