§ Mr. StreeterTo ask the Secretary of State for International Development if her Department's budget in the financial year 1999–2000 includes any expected proceeds from the sale of the Commonwealth Development Corporation. [68086]
§ Clare ShortI refer to my reply to the hon. Member on 2 November 1998,Official Report, column 301. There was no expectation of any proceeds in 1999–2000. As I have made clear, the figures for the development budget announced at the time of the Comprehensive Spending Review took account of some of the anticipated proceeds in subsequent years from the sale of the Commonwealth Development Corporation. However, if the proceeds were not realised in full, the development budget would nevertheless be maintained at the levels announced for 1999–2000 to 2001–02.
§ Mr. StreeterTo ask the Secretary of State for International Development what measures the Commonwealth Development Corporation will take to increase its return to investors following the introduction of the public/private partnership arrangements. [68102]
§ Clare ShortThe Commonwealth Development Corporation (CDC) intends to achieve an increase in its investment returns, in part, through continuing the shift to equity investments. CDC's method of working, which relies on close management of equity positions, also improves its ability to identify and pursue good investments.