Low-income Countries: Debt Cancellation
Debate between Brian Mathew and Andrew Rosindell(1 month, 3 weeks ago)
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Andrew Rosindell
The hon. Member touched on this in his speech earlier, as did the hon. Member for Melksham and Devizes. That is another new constituency name, and I think it includes Chippenham. Is that part of the hon. Gentleman’s constituency?
Andrew Rosindell
It is in Wiltshire, so it is in that part of the world—a great part of the world.
Many churches and faith organisations, not just Christian, do a huge amount in all our constituencies to help raise funds to alleviate poverty. In my constituency, churches and the Christian organisations take the lead in this, and it is a wonderful thing. If we are to alleviate world poverty and deal with the restructuring of international debt, it has to be a collective thing. It is not just about Governments; other sectors must be involved in these discussions. We must all give credit to the charities, church organisations, faith groups and other parts of the voluntary sector that raise money week in, week out, to help to alleviate poverty and for disaster relief in different parts of the world. As Members of Parliament, we all know that from our constituencies. I commend the hon. Member for Strangford (Jim Shannon) and all Members for the charities, churches and organisations in their constituencies that do that incredible work.
We simply cannot ignore the geopolitical dimension. The belt and road initiative from the People’s Republic of China has created debt dependency, threatening many sovereign nations around the world. Will the Minister tell the House how the Government intend to counterbalance Beijing’s influence and provide a credible alternative to Chinese financing, which is of great concern? Will debt relief and the belt and road initiative feature in the Government’s China audit? Can she also confirm that any UK-backed debt restructuring would promote transparency, fair economic partnerships and long-term stability?
Beyond individual cases, will the Government tell us how they plan to advocate for more responsible lending and borrowing practices that ensure that relief leads to lasting improvements rather than repeated crisis? Does the Minister also accept that we should be looking beyond debt cancellation and focusing on investment incentives, infrastructure partnerships and trade agreements that enable these countries to generate revenue and pay their debts? How will the Government ensure that their approach fosters economic growth rather than continued reliance on external assistance?
It is crucial that any policy pursued by His Majesty’s Government is effective and responsible. Debt relief can be a force for good when structured correctly, but it must be part of a broader strategy that promotes economic resilience, accountability and sustainable development. The Government must navigate these challenges while always ensuring that British interests remain protected.