Government Overseas Aid Commitment: Private Investment

Part of the debate – in the House of Commons at 4:39 pm on 9th October 2018.

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Photo of Toby Perkins Toby Perkins Labour, Chesterfield 4:39 pm, 9th October 2018

There is a legal duty under the International Development Act 2002 to ensure that aid spending is spent on poverty reduction overseas. There is also a responsibility on investors to maximise returns for their pension holders and shareholders. Those are probably contradictory priorities. Does the Secretary of State recognise that, if she is talking about this investment in terms of aid rather than of investment, she is going to have to change that legislation? Alternatively, is she talking about something entirely different from what we currently understand aid spending to be?