My hon. Friend is absolutely correct. There is no argument—it is simply a fact that is part of the tragedy of the DRC. It has applied to join the extractive industries transparency initiative, but at this stage it could not possibly do so. There is eternal tension between wanting companies to come into something like the EITI, and saying that if it takes anyone, it will become a daft badge that means nothing.
Graft is widespread in the DRC. EITI reports show that pretty much all the income reported is accounted for, but that the level of income is tiny, so there is a neat diagram showing that 96% of the income is accounted for, yet the level of income is lower than it should be, so the question is what should be done about that great big chunk. However, I do not want to go into too many names or bang on about that kind of stuff at the moment.
There is an interesting situation in Guinea, which is not like the DRC. The President of Guinea is trying to do the right thing, but he is beset by all sorts of graft at a lower level. The context is difficult, and a large expropriation might be about to take place. I worry that that will make it impossible for other companies to go into Guinea.
I should also mention the all-party group on extractive industries, which was recently formed. That is good, and we have a website—“Investing in Development”. That reflects a growing awareness of the scale of the industry throughout the world and especially in London—among large companies at FTSE-100 level, as well as smaller companies. I could list them, as could many hon. Members with a background in the mining industry.
The trend in the House is that as some people have a background in the industry, we occasionally hear it mentioned, but this is never regarded as a huge issue that permeates other areas of debate, such as international development. I hope that this is a small gesture towards that and that, in time, the whole issue of extractive industries can be more fully developed in this place.
2.54 pm