Navendu Mishra MP letter to the Chancellor

I am grateful to Mr Navendu (Nav) Mishra MP for writing to both the Rt Hon Rachel Reeves (the Chancellor of the Exchequer) and Kevin Parry OBE (the Nationwide Building Society chairman), regarding emerging “governance issues within the building society sector”, with Gareth Thomas MP copied, as chair of the APPG for mutuals.

These are important issues, being raised at an important time. The inconsistencies with the comparisons drawn need to be explained, if not addressed directly, in my view.

Write to your MP

Please consider writing to your local MP, asking them if they support the concerns raised by Nav Mishra MP with regards to governance concerns prevalent in member organisations given the letter he has written to the Chancellor and has submitted in Parliament this week.

A short, personal email is enough. The key points to include are:

• You are a member of a building society or other member-owner organisation
• You are concerned about governance standards and member voting processes
• You support greater scrutiny of the “Quick vote” mechanism
• You would like to know if your MP is supportive and will engage with the relevant Minister on this issue
• Attach Nav Mishra’s MP’s letter (either link to this page or download and attach the PDF)

If you could then forward your email to [email protected], and any response you receive, that would be appreciated so we can track coverage.

If enough MPs engage, it materially increases the cross-sector pressure mounting on the Quick vote and other governance concerns.

Copied to my social channels at LinkedIn // Facebook / X.com (Twitter).

Download a PDF of the letter from Navendu Mishra MP to The Rt Hon Rachel Reeves MP.