Developing World: Debt Reduction Debate
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Lord Naseby
Main Page: Lord Naseby (Conservative - Life peer)Department Debates - View all Lord Naseby's debates with the Foreign, Commonwealth & Development Office
(2 months, 4 weeks ago)
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Lord Cameron of Chipping Norton (Con)
I think that the noble Lord refers to what was agreed at the G8 in Northern Ireland in 2013, where a whole series of steps forward were made to make sure that companies were not doing what is known as base erosion and profit shifting and not paying their taxes in countries where they should. To be fair to the former Prime Minister, who is now the Foreign Secretary, we did make some progress, and I think the OECD would say that it has made a lot of progress, but I will certainly check up on the noble Lord’s point.
Lord Naseby (Con)
On the question of Sri Lanka, will my noble friend recognise the way in which Her Majesty’s Government, to whom I give particular thanks, through the IMF, were very firm to the Government of Sri Lanka about what they should do? The Sri Lankan Government responded, which means that the people of Sri Lanka can now move forward. I believe that that is as good a case history as we will find in recent times.
Lord Cameron of Chipping Norton (Con)
My noble friend is absolutely right that Sri Lanka is in debt distress; it has been working through a programme with the IMF. We wish the new Government in Sri Lanka well as they go through this and try to make sure that they can build a brighter future for that country.