UK Parliament / Open data

International Development (Official Development Assistance Target) Bill

In a second. Indeed, the promoter of the Bill at Second Reading in the other place, Michael Moore, said that it was a duty to all constituents, who he pointed out were struggling in the current economic climate, to advocate what is in the best interests of our country—and I agree with that.

I remind people, when they are talking about spending 0.7% of GDP, that this is not money that we have—it is money that we are borrowing. The proposition here is that we borrow money in order to make a commitment. If you are borrowing money in order to spend it, at the very least you should be absolutely certain that you are getting a sensible return on it, and recognise that you are passing on the burden to the next generation—because borrowing is simply taxation deferred. I beg leave to withdraw my amendment.

Type
Proceeding contribution
Reference
759 c941 
Session
2014-15
Chamber / Committee
House of Lords chamber
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