Future of CDC
Debate between Andrew Mitchell and Caroline Lucas(13 years, 5 months ago)
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Mr Mitchell
I will come directly to that point. CDC investments in India will be in addition to the 50% of the programme funding that we expect to be spent on pro-poor private sector development over the next four years. If the hon. Gentleman will allow me, I will come in a moment to some of the other points that he has raised.
Caroline Lucas
I am sorry to delay the Secretary of State on this issue, but I want to return to the point raised by the hon. Member for Birmingham, Northfield (Richard Burden). The Secretary of State said that the figure of 50% was not arbitrary, but he then said that the criteria were that that figure “feels right”, which does sound arbitrary. Will the Secretary of State be clearer about the criteria that led to the discussion and agreement on a figure of 50% for India, and what criteria were used elsewhere?
Mr Mitchell
At the moment, the target exists only in India. I can only repeat what I said to the hon. Lady: the figure feels right; it is not a science and I am not setting an arbitrary target in that sense. It is an aim and as long as we move down that course over the next four years—which I am sure we will—we will see the benefits in terms of what is happening in India and of the effectiveness of our programme.
I know that the hon. Lady has an urgent constituency matter to attend to and may leave before the end of my speech, so I will address the point she raised. She made a number of detailed comments about the nature of the operation of CDC’s investment in Nigerian companies against which corruption allegations have been made. I hope that she will forgive me if I draw her attention to the fact that some of those matters are before the courts and I must therefore be careful about what I say in my response. I can tell her, however, that the Department and CDC take allegations of corruption extremely seriously. We have looked at the allegations in exhaustive detail, and I have written in great detail on the matter to the chief executive—I think—of the Jubilee Debt Campaign. I would be happy to share the contents of that correspondence with the hon. Lady, and if she would like me to do that, she has only to say.