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Early Day Motion 58 put forward by Roger Godsiff, MP for Birmingham Sparkbrook and Small Heath, states:

That this House supports taking action to prevent debt crises taking place in developing countries, as these delay development and can cause great suffering; welcomes the $130 billion of developing country debt which was cancelled through the Heavily Indebted Poor Countries initiative; notes that lending to low-income countries has trebled since 2008, and that the IMF and World Bank state that 45 low-income countries are at moderate or high risk of not being able to pay their debts; further notes that multilateral institutions are responsible for 60% of loans to low income countries; in this context, urges the government to keep giving bilateral aid as grants rather than loans; further urges the Government to require the multilateral institutions that it funds to take further measures to ensure loans do not lead to unpayable debts; calls on the Government to support a UN Intergovernmental Tax Body to give developing countries a say in creating fairer global tax rules, and to support and implement the UN principles on responsible borrowing and lending; and further calls on the Government actively to support and participate in the UN negotiations to create new international bankruptcy rules for states which will indicate to the private sector that it will no longer be bailed out at taxpayer expense for reckless lending.

Other Birmingham MPs have yet to put their names to it. Some readers may decide to ask their MPs to sign it before the end of the session in May.


Sunday May 8 2-5pm

This is the first venture of the newly formed Birmingham “Footsteps: Faiths for a Low Carbon Future”, with speakers from the Muslim, Sikh and Christian Faiths. Venue to be announced. See what we can do to follow up Paris together. Other events to follow.

Contact John Nightingale, JDC Chairman and current producer of the newsletter via http://birmingham.jubileedebt.org.uk/