§ Lord Judd
asked Her Majesty's Government:
How the privatisation of the Commonwealth Development Corporation is proceeding; whether the corporation has put forward proposals for offshore status; and how they are ensuring that the corporation remains fully part of their poverty eradication priority in international development programmes. [HL2122]
§ Lord Whitty
We intend to put legislative proposals to Parliament as early as possible to make CDC into a public/private partnership in order to increase the flow of investment to the least developed countries. Meanwhile, detailed work on the design of the partnership is continuing; tax treatment of CDC relative to similar organisations is one of the issues under consideration. In line with CDC's existing practice, the partnership will be required to make investments consistent with an investment policy which has a particular focus on the poorer developing countries.