Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, for what reason the UK voted against UN Resolution A/68/L.57/Rev.1, entitled Towards the establishment of a multilateral legal framework for sovereign debt restructuring processes, on 9 September 2014.

The Government is actively engaged in ongoing discussions in a number of international fora, to reform the framework for sovereign debt restructurings. As outlined in the joint-EU Explanation of Vote on this Resolution, as with a number of other Governments, the UK Government was not in a position to support this UN resolution given concerns over the lack of time afforded to members to discuss the complex issues it raised.