Commonwealth Development Corporation Bill

I should have included the link to the Digital Economy Bill yesterday so here it is:

The brief summary of the Bill is:

A Bill To make provision about electronic communications infrastructure and services; to provide for restricting access to online pornography; to make provision about protection of intellectual property in connection with electronic communications; to make provision about data-sharing; to make provision about functions of OFCOM in relation to the BBC; to provide for determination by the BBC of age-related TV licence fee concessions; to make provision about the regulation of direct marketing; to make other provision about OFCOM and its functions; and for connected purposes.

The Bill passed through its final stages in the House of Commons yesterday and now passes to the House of Lords for consideration.

Today after questions to the Chancellor of the Exchequer the main Bill to be considered is one which I have seen described as a micro-measure – the Commonwealth Development Corporation Bill.  The Bill will raise 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 “1999 Act”). The new limit will be £6,000 million. The Bill will also introduce a power to allow the Secretary of State to further increase the financial limit up to £12,000 million by regulations.

Published by David Nuttall

Business and Political Consultant

6 thoughts on “Commonwealth Development Corporation Bill

  1. So am I reading that right – the CDC thingy. A “micro- measure” to increase to some quangos ability to borrow 12,000,000,000 POUNDS. Thanks for that – I’ve no personal debts at all – nil. But you lot in the hollowed halls are gonna borrow (because we are already in debt to the tune of 1.5 trillion ponds init!) another 6,000,000,000 pounds at a good interest rate (but it’s still borrowing) the interest to be paid by taxpayers. Well done – strewth.

    1. Yes and I am still awaiting a reply on where it’s gets spent besides on
      Borrowness Scotland.

  2. In addition I read that our government has agreed that the UK should be part of a new EU system for patent approval with an european patent court. Are you concerned that this diminishes our status as a sovereign nation ?

  3. I can only hope given my meagre knowledge of the consequences of the CDC Bill revision that Baroness Scotland will be unable to further feather her Mayfair nest ???

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