Commonwealth Development Corporation Bill

Wes Streeting Excerpts

Programme motion: House of Commons & 3rd reading: House of Commons & Report stage: House of Commons
Tuesday 10th January 2017 Commons Chamber

[Stephen Twigg]

I agree with my hon. Friend. I have read what the Minister said in Committee—reassurance can be gained from it—but I look forward to hearing him again today. It is very important that we have a sense that, with a very substantial increase in the potential money going through the CDC, we will ensure that it is geared towards poverty reduction wherever it is invested. As my hon. Friend rightly points out, part of that is the question of which parts of the world and which countries the CDC will invest in. Investments in some countries can deliver a lot more jobs and poverty reduction than investments in others.

As I have said, I am happy with an increase in the investment threshold, but we must ensure that the money is spent wisely. The 2012 to 2016 investment plan has expired and we are yet to see the 2017 to 2021 investment plan. I suggest that it would have been beneficial for the Bill, the Government and the CDC if Parliament had seen the plans for the next four years of investment before it was asked to raise the investment threshold. The amendment from my hon. Friend the shadow Secretary of State would ensure that, if the Government introduce regulations further to increase the limit, they would have to be preceded by a detailed plan of investment from the CDC that could be scrutinised by Parliament. I welcome and support that amendment.

[Wes Streeting (Ilford North) (Lab)]

Successive Governments can be proud of the role played by DFID in improving lives and the economies of some of the world’s poorest countries but, in light of much of the public debate on international development spending, much of what my hon. Friend says on parliamentary scrutiny is correct in principle. Does he agree that that is absolutely essential for maintaining and building public confidence in international development spending?

[Stephen Twigg]

I absolutely agree with what my hon. Friend says, which chimes with my conclusion on the importance of scrutiny of both the CDC and the Government, including scrutiny by the House.