More than 40 MPs and peers, along with 30 hospices, have rallied behind a campaign launched by not-for-profit energy consultancy Box Power CIC, proposing that the first £100 million of annual Financial Conduct Authority fines be allocated directly to the struggling hospice sector.

The campaign claims the UK has a £70 million funding shortfall. It started from a change.org petition that has now amassed 36,000 signatures and is asking for the general public to lobby their MP to support the motion.

Based in Bolton, Corin Dalby, chief executive and Tricia Dalby, chief operating officer of Box Power CIC, are hoping to raise the support of a majority of MPs and will be handing their campaign letter in to 10 Downing Street on 10 December.

Corin Dalby, says: “We are calling for the public to write to their MP and ask them to support our campaign. As a supporter of hospices, it is heartbreaking to see many who have invested time and fundraising to keep hospices open struggle to cover basic operating costs.

“Some have tirelessly fundraised to build precious rooms left empty because they cannot fund them due to cost constraints, placing added burden on donations. It is shocking, despite the reality that a well-funded hospice sector would ease the pressure on NHS and social care, hospices only receive between 20-33% of state funding.

“There are hundreds of millions in annual FCA fines which go into the government pot and generally as a result of an injustice to the UK people who may benefit from the services offered by hospices, there is no better way to complete the circle by allocating these funds to the UK hospice sector.”

In the last week alone the FCA has issued fines of £40 million for Barclay’s and £13 million for Macquarie Bank. The total for this year now stands at £174 million.

The petition has attracted significant cross-party political support, with MPs including Stuart Andrew, Phil Brickell, Kirith Entwistle, Sir Iain Duncan Smith, John McDonnell, Nadia Whittome, John Milne and Paul Kohler.

Kirith Entwistle, MP for Bolton North East, said: “Championing hospices, both locally and in Parliament, is a cause I deeply care about. I am proud to support Bolton Hospice, whose brilliant staff work tirelessly to provide exceptional care.”

Stuart Andrew, MP for Daventry, said: “I worked in hospices for 16 years, so I am well aware of the challenges the sector faces and always happy to lend my support to the cause.”

Phil Brickell, MP for Bolton West, said: “Hospices, including Bolton Hospice who I have and will continue to support throughout my time as MP, provide absolutely vital support to those in need.”

Sir Alec Shelbrooke MP said: “I’m more than happy to support this sensible proposal as it would make such a difference to hospices such as Martin House Children’s Hospice in my constituency.”

Kevin Hollinrake MP for Wetherby and Easingwold, said: “Herriot Hospice Homecare do a fantastic job for local people in their hour of need and it has been my pleasure to support them wherever I can, including by supporting these calls for a new funding stream.”

Lord Brady said he was “happy to support this vital sector”.

Reform Party leader: Nigel Farage MP commented: “The hospice sector is in desperate trouble, and every one of us will rely on it at some point. Directing FCA fines to hospices would be a decent and magnanimous gesture of apology from financial institutions.”