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Debt Relief (Developing Countries) Bill

As I said earlier, we welcome the fact that the Bill has returned to the House and that time has been found for it. The Opposition supported the Bill on Second Reading, we co-operated in ensuring that there was an early Committee stage, and we tabled an amendment that we discussed a moment ago, which was accepted by the Government and the Bill's proposer. It is unfortunate that there was some controversy, which the Government were guilty of whipping up, when the Bill did not reach Report stage or Third Reading. As the Government are well aware, we did not object to the Bill progressing. We did not collude in its being objected to, although it would be fair to say that it is usual that private Members' Bills that have not been debated on Report or Third Reading do not progress. Our argument has always been that it is a question of the Government giving time for this Bill. We are delighted that, after some initial reluctance, the Government have brought the Bill back. It was always in the Government's hands to do that. The hon. Member for Northampton, North (Ms Keeble) mentioned the support of the business managers, and I would make particular mention of my hon. Friend the shadow International Development Secretary, who has been supportive of the Bill and has taken a close interest in it both in front of and behind the scenes. It is good that the Bill has returned to us, and once again, as it completes its Third Reading, the Conservatives will not oppose it. There are matters of legitimate debate, such as ensuring that the law of unintended consequences does not apply, and that we do not inadvertently make life more difficult for developing countries. However, the point that I made at earlier stages is that, to some extent, the Bill provides an insolvency procedure for developing countries that find themselves in great difficulty, because they will be able to reduce their debts equitably and share them out among creditors, whereas without such a mechanism no creditor would receive anything, or such payments would be made inequitably. For those reasons, we are very happy for the Bill to proceed, and I congratulate the hon. Member for Northampton, North on the way in which she has progressed the matter. Finally, I think that this will be my last opportunity to debate with the Economic Secretary to the Treasury, the hon. Member for Dudley, South (Ian Pearson). It has been a great pleasure to shadow him—in part, along with my hon. Friends—over the past couple of years or so. He has always been a great pleasure to work with; he is a man of great integrity and hard work; and I think that I speak on behalf of all my colleagues in wishing him well for the future.