PARLIAMENTARY WRITTEN QUESTION
Public Sector Debt: UN Resolutions (12 October 2014)

To ask Mr Chancellor of the Exchequer, for what reason the UK voted against UN Resolution A/68/L.57/Rev.1, entitled Towards the establishment of a multilateral legal framework for sovereign debt restructuring processes, on 9 September 2014.

Asked by:
Alison McGovern (Labour)

The Government is actively engaged in ongoing discussions in a number of international fora, to reform the framework for sovereign debt restructurings. As outlined in the joint-EU Explanation of Vote on this Resolution, as with a number of other Governments, the UK Government was not in a position to support this UN resolution given concerns over the lack of time afforded to members to discuss the complex issues it raised.

Answered by:
Andrea Leadsom (Conservative)
15 October 2014