Tories scupper plans to stop 'Vulture Funds'

One of my main political interests is International Development, I was disappointed to see that attempts to deal with 'Vulture Funds' which exploit the poorest countries and make money from their misery failed in the House of Commons on Friday. You can read a report from the Guardian here. Tory MPs used House of Commons rules to prevent the bill from becoming law. There had been strong indications of cross-party support for this bill and I am disappointed that this was not the case. I have added my name to a letter which has been sent by Labour's International Development Secretary, Douglas Alexander, to the leader of the Conservative Party David Cameron.

It is important that bankers and international speculators are brought into some form of control and I think that this modest bill would have made a difference. It is a shame that it was not supported.