LCID is urging MPs to vote against the Commonwealth Development Corporation (CDC) Bill next Tuesday 29th November. The bill will increase the amount of UK aid that can be spent by the CDC from £1.5 billion to £6 billion – and possibly as much as £12 billion.
A strong private sector is essential to the eradication of poverty in any country. But the CDC has a hugely patchy track record mired in controversy. There’s nothing wrong with building malls and luxury homes, but it’s hard to see how this is the most effective way to tackle poverty. DFID’s own record on private sector is hardly much better – the government’s own aid watchdog gave their private sector aid spending an amber-red rating.
Furthermore, with the Tories already committed to spending a quarter of the aid budget through non-DFID departments, this huge potential increase in money for the CDC is yet more aid money taken away from the life-saving work DFID does. After all, why introduce this bill if you don’t intend to use it?
The CDC has a poor track record – it doesn’t deserve a £12 billion reward, paid for out of our aid. We therefore encourage Labour MPs to stop Priti Patel sneaking this bill through by attending the 2nd reading next Tuesday and voting against this bill.