Clause 1

Part of Debt Relief (Developing Countries) Bill – in a Public Bill Committee at 9:30 am on 9th March 2010.

Alert me about debates like this

Photo of John Hemming John Hemming Liberal Democrat, Birmingham, Yardley 9:30 am, 9th March 2010

I am sorry, but I cannot agree with the amendment if it is pushed to a vote. The clause is about identifying countries to which the Bill, which is effectively a form of creditors’ voluntary arrangement whereby everyone will get the same poundage, will apply. More complex issues that relate to how enforceable the Bill will be—the issue is an international one, and the Bill will only affect the UK’s jurisdiction—are for later. Logically, if we are to have a creditors’ voluntary arrangement whereby everyone gets a poundage, all creditors should get the same poundage. That should apply to all countries where that process occurs.