HC Deb 13 June 1995 vol 261 cc502-3W
Mr. Redmond

To ask the Secretary of State for Foreign and Commonwealth Affairs for what reasons Her Majesty's Government did not support the Copenhagen social summit proposal tabled by the UN Development Programme in respect of a levy on international currency transfers; and if he will make a statement. [27392]

Mr. Baldry

We support the summit's conclusion that this type of taxation should not be promoted as a way of assisting developing countries. There are huge practical difficulties in the application of such a tax and it would distort international financial transactions.

The best way to help poorer countries develop is to allow them to participate fully in international commerce. This is why my right hon. and noble Friend the Minister for Overseas Development made it clear in her address to the summit that full implementation of the general agreement on tariffs and trade is more likely to generate increased jobs worldwide than any other single international development.

Mr. Redmond

To ask the Secretary of State for Foreign and Commonwealth Affairs on what grounds Her Majesty's Government did not support the Copenhagen social summit proposal tabled by the United Nations International Children's Emergency Fund and the United Nations Development Programme in respect of the 20:20 initiative; and if he will make a statement. [27400]

Mr. Baldry

We worked with our international partners to agree an acceptable formula for the world summit for social development declaration. We support the Copenhagen declaration and programme of action including the section which refers to the 20:20 initiative.