Key Policy Commitments

THE CHALLENGE OF GLOBALISATION

The UK Government will:

· Work with others to manage globalisation so that poverty is systematically reduced and the International Development Targets achieved.

· Promote economic growth that is equitable and environmentally sustainable.

The UK Government will:

· Help developing countries build the effective government systems needed to reform their economic management, make markets work for poor people, and meet the challenge of globalisation.

· Work to reduce corruption, and ensure respect for human rights and a greater voice for poor people.

· Work with others to reduce violent conflict, including through tighter control over the arms trade.

The UK Government will:

· Promote better health and education for poor people, and harness the new information and communications technologies to share skills and knowledge with developing countries.

· Help focus more of the UK and global research effort on the needs of the poor, and make intellectual property regimes work better for poor people.

The UK Government will:

· Work with developing countries to put in place policies that will attract private financial flows and minimise the risk of capital flight.

· Work to strengthen the global financial system to manage the risks associated with the scale, speed and volatility of global financial flows, including through use of 'road maps' to guide countries on opening of their capital accounts.

· Encourage international co-operation on investment, competition and tax that promotes the interests of developing countries.

· Encourage corporate social responsibility by national and transnational companies, and more investment by them in developing countries.

The UK Government will:

· Support an open and rules-based international trading system, and work to promote equitable trade rules and an effective voice for developing countries.

· Support continuing reductions in barriers to trade, both in developed and developing countries, and work to improve the capacity of developing countries to take advantage of new trade opportunities.

The UK Government will:

· Work to reduce the contribution made by developed countries to global environmental degradation.

· Work with developing countries to ensure that their poverty reduction strategies reflect the need to manage environmental resources sustainably, and strengthen their capacity to participate in international negotiations.

The UK Government will:

· Increase its development assistance to 0.33% as a proportion of GNP by 2003/04, and continue to make progress towards the 0.7% UN target.

· Work to increase the proportion of global development assistance spent in poor countries, help to improve its effectiveness and to reduce the burdens placed on recipient countries, end UK tied aid and work for multilateral untying.

· Introduce a new Development Bill to replace the outdated Overseas Development and Co-operation Act (1980), to consolidate our poverty focused approach to development.

· Provide faster and more substantial debt relief for heavily indebted poor countries that are committed to poverty reduction.

The UK Government will:

· Work with others to build a stronger, more open and accountable international system, in which poor people and countries have a more effective voice.