Monday, March 15, 2010

The Nasty Party still trading

Dave has supposedly decontaminated the Tory brand, but Friday saw the Tories revert to type.

A swift bill, with much cross-party support, has been pushed through parliament to outlaw 'vulture' funds. These are international financial companies that buy up national debt from the poorest countries for a fraction of the original value and then pursue those countries through the courts to obtain a return. Some of these debts have even been promised relief in earlier bids to cut third world debt.

Three Conservatives - Andrew Robotham, Christopher Chope and Simon Burns - were conspiring in the chamber as the item was raised and one of them shouted 'Object.' This has stopped the bill passing.

The odd thing is that this bill apparently had the support of the Conservative front bench and two of the three are opposition whips.

So, thanks to one lone Conservative, some of the poorest countries on the planet can look forward to British financiers continuing to chase them for debts that they thought had been written off.

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