Commonwealth Development Corporation Bill — Funding Cap — 10 Jan 2017 at 16:15
Dominic Grieve MP, Beaconsfield voted against limiting public funding of the Commonwealth Development Corporation to the lesser of £6 billion or £1.5 billion plus 4% of official development assistance.
The majority of MPs voted against limiting public funding of the Commonwealth Development Corporation to the lesser of £6 billion or £1.5 billion plus 4% of official development assistance.
MPs were considering the Commonwealth Development Corporation Bill.
The amendment rejected by the majority of MPs in this vote was:
- Amendment 3, page 1, line 4, at end, insert—
- “(1A) After subsection (1), insert—
- (1A) The amount specified in this subsection is whichever is the lesser of the following amounts—
- (a) £6,000 million,
- (b) £1,500 million plus the amount determined in accordance with subsection (1B).
- (1B) The Secretary of State shall determine the amount for the purposes of this subsection by estimating the amount which will constitute 4% of official development assistance in the relevant period determined in accordance with subsection (1C).
- (1C) That period begins with the financial year in which the Secretary of State considers that the Crown’s assistance to the Corporation (determined in accordance with subsection (2)) will exceed £1,500 and ends at the end of the fourth subsequent financial year.
- (1D) For the purposes of this section, ‘official development assistance’ has the same meaning as in the most recent annual report laid before each House of Parliament in accordance with the provisions of section 1 of the International Development (Reporting and Transparency) Act 2006.”
The rejected amendment was accompanied by the following explanatory statement:
- This amendment would replace the proposed limit on government assistance under section 15 with a new amount, expressed as either £6 billion or the existing investment of £1.5 billion plus a sum not more than 4% of forecast official development assistance over a five year period, whichever is the lesser amount.
The Commonwealth Development Corporation Bill provided for an increase in the limit on government financial assistance that can be provided to CDC Group plc (formerly the Commonwealth Development Corporation) (the "CDC") and its associated companies by amending Section 15 of the Commonwealth Development Corporation Act 1999. The limit prior to this Bill was £1,500 million. The limit provided for in the Bill was £6,000 million. The Bill also provides for a power to allow the Secretary of State to further increase the financial limit up to £12,000 million by regulations.
-  Parliament's webpage on the Commonwealth Development Corporation Bill 2016-17
-  Explanatory notes to the Commonwealth Development Corporation Bill 2016-17
Votes by party, red entries are votes against the majority for that party.
What are Boths? An MP can vote both aye and no in the same division. The boths page explains this.
What is Turnout? This is measured against the total membership of the party at the time of the vote.
|Party||Majority (No)||Minority (Aye)||Both||Turnout|
|Con||291 (+2 tell)||0||0||89.1%|
|SNP||0||47 (+2 tell)||0||90.7%|