Government Overseas Aid Commitment: Private Investment

Wes Streeting Excerpts

Tuesday 9th October 2018 Commons Chamber

[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.

[Wes Streeting (Ilford North) (Lab)]

The Prime Minister’s cuddly, compassionate Conservative pitch has not even lasted the first day back: not only have we just had a totally unnecessary and gratuitous attack on the shadow Home Secretary from the International Development Secretary, but it is clear from the briefing that her speech this morning was a pitch to the right wing of the Conservative party as part of her leadership ambitions. The pitch is simple: we are going to roll in the private sector and roll back the state. That is what she has announced today, isn’t it?

[Penny Mordaunt]

I will circulate my speech to hon. Members.

Hon. Members must understand that ODA, the 0.7%, cannot be private funds; it can only be public funds—whether money Governments have put in or returns potentially from those funds in those publicly owned investment vehicles. The hon. Gentleman accuses me of playing to the gallery; I am sorry, but I think Opposition Members are doing that. I have not heard an Opposition Member stand up and defend good British business that wants to use its resources to help alleviate and eradicate poverty. We are behind that agenda, and I urge Opposition Members to get with it, too.

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.

Oral Answers to Questions

Wes Streeting Excerpts

Wednesday 29th June 2016 Commons Chamber

[Justine Greening]

My hon. Friend is absolutely right: we will end aid dependency through creating jobs. DFID has doubled its bilateral work on economic growth. That includes supporting entrepreneurship through expanding access to finance and easing the cost and risk of doing business.

[Wes Streeting (Ilford North) (Lab)]

Given the support that the Government provide to the Government of Sri Lanka for reconciliation and human rights, will the Secretary of State give a commitment that her Department will make the strongest representations to the Government of Sri Lanka that there will be no peace or reconciliation without international involvement in the prosecution of historic war crimes during the Sri Lankan civil war?

[Justine Greening]

The hon. Gentleman makes a very important point, and I will certainly relay it to my colleagues in the Foreign and Commonwealth Office.

Oral Answers to Questions

Wes Streeting Excerpts

Monday 14th December 2015 Commons Chamber

[Mr Robin Walker (Worcester) (Con)]

13. What recent progress his Department has made on increasing the provision of affordable housing.

[Wes Streeting (Ilford North) (Lab)]

18. What assessment he has made of the adequacy of Government investment in affordable housing.

[The Minister for Housing and Planning (Brandon Lewis)]

We have successfully delivered 270,000 affordable homes since 2010. More specifically, the 2011 to 2015 affordable homes programme delivered 193,000 affordable homes, exceeding expectations by some 23,000.

--- Later in debate ---

[Brandon Lewis]

My hon. Friend gives a good example of a good, well run local authority delivering housing for its constituents. We are determined to stand by those authorities and work with them. That is why I am delighted that the Chancellor committed a further £8 billion in the spending review to deliver 400,000 affordable homes across the country.

[Wes Streeting]

Given that average property prices in London have exceeded half a million pounds, first-time buyers will need to earn at least £70,000 a year to buy their first home. Does the Minister consider that affordable and, if not, what effective action will he take to put home ownership within the reach of the many and not just the few at the top?

[Brandon Lewis]

I am glad that the hon. Gentleman is now joining our call to build more homes that are affordable for people. Starts are up some 57% in his constituency since 2010, which is a good start, but we want to go even further. That is why we want to deliver more shared ownership, giving people a wider opportunity to get on the housing ladder, along with the 20% discount on starter homes through Help to Buy on just a 5% deposit.