Government Overseas Aid Commitment: Private Investment Debate
Full Debate: Read Full DebateDepartment: Department for International Development
Huw Merriman
Main Page: Huw Merriman (Conservative - Bexhill and Battle)Department Debates - View all Huw Merriman's debates with the Department for International Development
Government Overseas Aid Commitment: Private Investment
Huw Merriman Excerpts(6 years, 1 month ago)
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Penny Mordaunt
I agree with my hon. Friend and stand ready to receive other advice from the Opposition Benches about how we might close the £2.5 trillion funding gap—the shadow Home Secretary is not allowed to help with the maths. If we can deliver that through private investment, we can deliver the global goals. We must stop this dogma in the aid sector that anything done by the private sector is a bad thing; it is the only way we can actually deliver the goals.
Huw Merriman (Bexhill and Battle) (Con)
I remain committed to the 0.7% figure, but I have no issue if that is made up of taxpayers’ money and a rate of return from taxpayers’ money, so long as the sum total is 0.7%. But may I ask the Secretary of State for reassurance that decisions will be made not on what gives the greatest investment return, but on what will give the greatest humanitarian outcome?
Penny Mordaunt
Absolutely, and businesses are very interested in this agenda. They are interested in seeing how they can embed the global goals into their company reporting; there is huge demand for that, and for advice and support to enable them to do that. The possibilities are truly incredible, and we should support our entrepreneurs and those philanthropists who also want to donate, because they are another part of this issue with the potential that impact investing has. They want to do some good in this world, and we should support them to do that.