Derek McDowell (Labour)

I wish to be associated with my colleagues in complimenting the Minister of State and his officials on steering the Bill through the Houses. A difficulty arises with regard to the mechanisms we have in place for reporting on our participation in multilateral institutions, such as the World Bank, the International Monetary Fund and the European Bank for Reconstruction and Development, inasmuch as we tend to pass legislation such as this, sign the relevant cheque and forget about the matter. I am not suggesting the responsibility resides with the Department and not elsewhere but the reporting mechanisms are not good. In addition, they would not be significantly improved if we were to receive only an annual report. A mechanism is needed whereby regular reports are submitted to the overseas development sub-committee of the Department of Foreign Affairs, the Joint Committee on Foreign Affairs or another body. We must occasionally exercise oversight of the action taken on our behalf in the four or five international banks of which we are members.