HISTORIC PRESS RELEASE : Teach the world tax incentives to encourage education and anti-poverty projects in poor countries [December 1997]
The press release issued by HM Treasury on 17 December 1997.
Tax relief on charitable gifts to educational and anti-poverty projects in the poorest countries of the world to mark the Millennium was one of the options to promote economic growth and tackle poverty in the world’s poorest countries discussed when Chancellor Gordon Brown met leading Church and voluntary sector bodies at No 11 Downing Street today.
Addressing a seminar to discuss progress with his Mauritius Mandate for early and effective debt relief, Mr Brown said :
“This Christmas up to 150 million of the world’s young children will go hungry.
“150 million children under 11 will not be attending school.
“A debt burden that cripples the poorest countries and prevents them from tackling poverty and offering health and educational opportunity to their children is a debt burden that is unfair, inefficient and immoral.
“The Inland Revenue are today issuing a consultation paper canvassing options for these changes. I would welcome views on these options so that I can put a millennium fund to help the poor of the world in place by the beginning of the 1998 financial year.”
Mr Brown pledged to deliver his Mauritius Mandate call to the international community.
“The Government has already put debt on the agenda of the G7 and G8. I can promise today that under the UK Presidency we will raise the issue of debt wth our European partners.”
He also welcomed President of the Board of Trade Margaret Beckett’s announcement today that the UK will provide an extra 100 million Pounds in investment insurance to heavily indebted poor (HIPC) countries.
He also noted thatfor two years the UK export credits available to some HIPC countries will be focussed on productive expenditures that support their economic and social development, while the UK seeks a firm international understanding covering all poor countries.
The Chancellor made his announcements at a seminar to discuss progress of the Mauritius Mandate announced to Commonwealth Financial Ministers in September this year. Those attending the seminar included Secretary of State for International Development Clare Short, the Archbishop of Canterbury, Dr George Carey, Cardinal Basil Hume, and representatives of Oxfam, Christian Aid and other religious and voluntary sector organisations committed to tackling Third World poverty.
