Switch to an accessible version of this website which is easier to read. (requires cookies)

Jo joins Jason Donovan to support Vulture Funds Bill

February 18, 2010 11:11 AM

Jo is joining anti-poverty campaigners and churches in support of a Bill to put a stop to vulture funds.

A vulture funds is where a small number of firms buy up the defaulted debts of the world's poorest countries at low prices. They then take countries to court to recoup the debts at full value for immediate repayment, often in UK and US courts. This process allows a small number of investors to take money which poor countries urgently need to spend on health and education for their citizens.

Jubilee Debt Campaign campaigned to highlight a case last November in which vulture funds won £20million against Liberia, one of the poorest countries in the world, in a UK court.

Jo is supporting a Bill in Parliament to forbid vulture fund activity against the world's poorest countries.

Commenting, Jo said:

"This Bill would play a key role in restricting the activities of investors that do not take part in debt relief, dealing with the so-called 'Vulture Funds.' For too long, unscruplous companies have been able to get away with exploiting the debt relief received by developing countries for their own profit, taking vital resources away from those in the greatest need. I will support this Bill and I hope this will make it possible to end this objectionable practice."

Jason Donovan said:

"Like most people I want to see an end to global poverty. I certainly support this campaign, which aims to reduce third world debt and make a real difference to the lives of some of the poorest people in the world."

Nick Dearden from Jubilee Debt Campaign said:

"We have seen that nothing short of legislation will stop these investors from their outrageous practices. It's great that so many MPs have expressed support for this Bill, and will be taking time out of their dairies to make sure it becomes law. We have to make sure vulture funds are stopped from feeding off the poorest."

Related Links

What would you like to do next?

  • Subscribe for updates

    Read updates from this website in your desktop or online news reader

    • On a news reader website

      •  
      •  
      •  

      In a desktop news reader or a website not listed above

      •  
    • Example monthly digest email
      •  
      •  
      •  

    • If you submit your contact details, Jo Swinson, the Liberal Democrats, and their elected representatives may use the information you provide to contact you about issues you may find of interest. Some of the contacts may be automated. You can opt out of these contacts at any time by contacting us.


    • Generate different image

    Join our email list

    • If you submit your contact details, Jo Swinson, the Liberal Democrats, and their elected representatives may use the information you provide to contact you about issues you may find of interest. Some of the contacts may be automated. You can opt out of these contacts at any time by contacting us.


    • Generate different image

    Follow the party's activity on...

  • Share this page

    Share this page on another website

    Link to this page

    On websites and printed material:
    joswinson.org.uk/en/article/2010/056629/jo-joins-jason-donovan-to-support-vulture-funds-bill
    In text messages, Twitter, or reading over the phone:
    js.lib.dm/a92pW

    Email this page to a friend


    • Generate different image

    Print this page

  • Help out or donate

    Help out in your local area

      •  
      •  
      •  
      •  
      •  
      •  
      •  
      •  
      •  
      •  
      •  
      •  

    • If you submit your contact details, Jo Swinson, the Liberal Democrats, and their elected representatives may use the information you provide to contact you about issues you may find of interest. Some of the contacts may be automated. You can opt out of these contacts at any time by contacting us.


    • Generate different image

    Join the Liberal Democrats

  • Tell us what you think

    Send us your views

    If you are a resident of the East Dunbartonshire constituency and are writing to discuss any issue that Parliament or government is responsible for, you must provide your home address as MPs are generally only permitted to act on behalf of constituents.

    If you are not a constituent, you do not need to provide your address, but the matters we can deal with are more limited and you may wish to contact your local MP in the first instance.

    • If you agree, Jo Swinson, the Liberal Democrats, and their elected representatives may use the information you provide to contact you about issues you may find of interest. Some of the contacts may be automated. You can opt out of these contacts at any time by contacting us.


    • Generate different image

    Contact us by email, post, or phone