Commonwealth Development Corporation Bill
Debate between Stephen Doughty and Wendy MortonTuesday 10th January 2017
(7 years, 10 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts Amendment Paper: Commons Consideration of Lords Amendments as at 10 January 2017 - (10 Jan 2017)
Stephen Doughty
I do not believe that that case has been made; there has been no justification at any point for the actual figures. To maintain CDC at its current level of activity, we need to realise that it has managed perfectly well with £1.5 billion since 1999 and has recycled it within its own budgets. If it was going up by £1.5 billion or £2 billion, I could understand it with a view to creating space for the next 10 years, but £6 billion and £12 billion seem to me to be well out of the appropriate range.
Wendy Morton
From my understanding of the Bill and on the basis of evidence given in Committee, I would like to read the quote that
“no money will go to CDC until a full business case is written in huge detail, which will be prepared in the summer of 2017.”––[Official Report, Commonwealth Development Corporation Public Bill Committee, 6 December 2016; c. 9.]
The suggestion that we are going to give a huge chunk of money to CDC straight away is perhaps creating an unfair impression.
Stephen Doughty
Clearly, the hon. Lady did not listen to what I was saying. I did not say that. I said that the Minister had acknowledged that it was not going to be spent in one year, which was the fear when this was initially proposed. What we are asking for in the amendments is just that clear business case. I hope that the Minister—he was nodding earlier—will be able to set out how that process and scrutiny of it will occur, which is only right. There was only limited scrutiny of the last amounts spent, which were quite significant.