HC Deb 16 February 1981 vol 999 c16
49. Mr. Bowen Wells

asked the Lord Privy Seal whether he has yet received the report on the Commonwealth Development Corporation; and when he will make a statement.

The Minister for Overseas Development (Mr. Neil Marten)

I have now received the report of the group of officials which, with representatives of the CDC, has been reviewing the work of the Commonwealth Development Corporation. I am considering the report. The Government's conclusions on it will be made known to the House as soon as possible.

Mr. Wells

Will my hon. Friend confirm article which appeared in The Sunday Times on the Commonwealth Development Corporation, which indicated that one of the causes of the report's delay was a foolish and footling argument about whether CDC borrowings in the City and, indeed, overseas—which do not affect this economy—are counted as part of the public sector borrowing requirement? If the CDC cannot borrow from that source because the Treasury's view is upheld, will my hon. Friend consider making additional commitments from the bilateral programme of the ODA?

Mr. Marten

I will not confirm the report which appeared in The Sunday Times. As to the second part of my hon. Friend's question, we shall consider anything. Many of these factors have already been raised by the chairman of the CDC, Lord Kindersley, but I am afraid that at this stage there is little that I can add to the answer which I have given. The same applies to the Adjournment debate tomorrow night, when I doubt that I shall be able to say more than I have today.

Mr. Hooley

Is the Minister aware that the CDC has been outstandingly successful not only in development terms but also in commercial terms? Will he use all his influence to expand and not contract its activities?

Mr. Marten

I entirely agree with the first part of the hon. Gentleman's remarks. I shall certainly bear in mind the question of expanding the CDC's activities as best we can.