HC Deb 17 March 1970 vol 798 cc178-9
7. Mr. Hooley

asked the Chancellor of the Exchequer if he will institute discussions in the appropriate committee of the Organisation for Economic Cooperation and Development on the possibility of using the Special Drawing Rights allocated to Organisation for Economic Co-operation and Development countries for promoting development in developing countries.

Mr. Taverne

There will be further international discussion of the problem of a link between liquidity creation and development finance. But this is scheduled to take place mainly in the U.N.C.T.A.D. at the present stage.

Mr. Hooley

Would my hon. and learned Friend not agree that critical in the discussions in U.N.C.T.A.D. is the attitude of O.E.C.D. countries, which contain the major donors and control the major special drawing rights? Would it not be useful to have discussions within O.E.C.D. on this very important point with a view to constructive proposals being put forward at U.N.C.T.A.D. itself?

Mr. Taverne

I agree with my hon. Friend that discussions in the O.E.C.D. or the Development Assistance Committee may well be desirable at an appropriate stage in due course, but it is U.N.C.T.A.D. to which the recent expert group reported and it is to a further U.N.C.T.A.D. committee that this matter has been referred.