§ Matthew TaylorTo ask the Secretary of State for International Development, pursuant to her answer of 2 July 2001,Official Report, column 41W, on Belize, if KPMG passed to her Department copies of the three letters from Carlisle Holdings during its study to review the regulation of offshore financial services in Belize and the effect of tax exemptions on pro-poor programmes. [3372]
§ Clare ShortYes.
§ Matthew TaylorTo ask the Secretary of State for International Development, pursuant to her answer of 2 July 2001,Official Report, column 42W, on Belize, on what date her Department was informed that KPMG were the external auditors of the Belize b ink. [3373]
§ Clare ShortOn 25 August 2000.
§ Matthew TaylorTo ask the Secretary of State for International Development on what dates KPMG received letters from the Public Investment Company, Sonisa, during its study to review the regulation of offshore financial services in Belize and the effect of tax exemptions on pro-poor programmes; if she will place copies of these letters in the Library and if she will make a statement. [3374]
§ Clare ShortMy Department is not aware of any such correspondence.
654W
§ Matthew TaylorTo ask the Secretary of State for International Development what assessment has been made of the amount of tax not paid since 1990 by the two public investment companies with regard to the study commissioned by her Department to review the regulation of offshore financial services in Belize and the effect of tax exemptions on pro-poor programmes; if she will place a copy of these calculations in the Library; and if she will make a statement. [3375]
§ Clare ShortI refer the hon. Member to the answer I gave on 11 July 2001,Official Report, column 531W, concerning the confidentiality of the KPMG report.
§ Matthew TaylorTo ask the Secretary of State for International Development if her Department asked(a) KPMG and (b) the Belize Government to calculate the amount of tax not paid since 1990 by the two public investment companies during its study commissioned by her Department to review the regulation of offshore financial services in Belize and the effect of tax exemptions on pro-poor programmes; and if she will make a statement. [3378]
§ Clare ShortKPMG was asked to estimate the scale of the possible loss of tax revenue as a result of PICs (Public Investment Companies). I refer the hon. Member to my answer to question uin3375.
§ Matthew TaylorTo ask the Secretary of State for International Development how much debt owed by Belize has been written off by the British Government under the Commonwealth Debt Initiative in each year since 1997; how much debt owed by Belize is planned to be written off by the Government over the next decade; and if she will make a statement. [3377]
§ Clare Short£1.146 million in debt relief was granted to Belize in 1998 covering repayments due on past UK aid loans from April to October 1998. Bilateral aid amounting to £1.771 million for poverty-focused projects was agreed in 1999—equivalent to the repayments due between December 1998 and March 2000. This was provided so that the newly elected Government did not lose out on the value of the debt relief but was given time to decide whether it wished to qualify for the benefits of the Commonwealth Debt Initiative. The remaining outstanding debt on past UK aid loans to Belize amounts to £10.470 million, covering a repayment period which lasts until 2008.
§ Matthew TaylorTo ask the Secretary of State for International Development on what dates KPMG visited Belize while conducting the study commissioned by her Department to review the regulation of offshore financial services in Belize and the effect of tax exemptions on pro-poor programmes. [3379]
§ Clare Short18 July to 1 August 2000.