§ Mr. KidneyTo ask the Chancellor of the Exchequer what progress has been made on incorporating the social principles drafted by the World bank into the decision-making of(a) the IMF, (b) the World bank and (c) the United Kingdom. [87884]
§ Ms HewittThe World bank is currently working with the IMF to translate the draft social principles discussed at the Development Committee in April into good practices in social policy when designing adjustment programmes.
The good practices in social policy will help promote long-term growth and greater prosperity; and the need for equality of opportunity to ensure that everyone has access to the benefits of, and is able to contribute towards, this growth and prosperity.
257WAs my right hon. Friend the Chancellor made clear in his Mansion House speech earlier this month, the Government have put in place policies for a modern successful economy to ensure employment opportunity and greater prosperity for all in the years ahead, and which is therefore fully compatible with the principles and good practice in social policy.