Vulture funds seek to make profits through buying up debt from the world’s poorest countries, then trying to recover the full amount, often through suing the countries in court. They are grossly unfair and exacerbate already difficult situations for many countries.

Andrew Gwynne, Labour MP for Denton and Reddish, introduced a private members bill aiming to stop these companies and hedge funds operating in the UK. The Bill faced Conservative opposition throughout its passage through Parliament, culminating in an unnamed Conservative MP attempting to derail the Bill’s progress.

Not only has the Labour Government announced that it will work to pass the bill before Parliament is dissolved next week, the Labour Party has also become the only party to date to include a commitment to tackle vulture funds in its manifesto. The Jubilee Debt Campaign welcomed the addition, the Director, Nick Dearden, commented:

“We are delighted that the Government has agreed to support this vital legislation in their manifesto. Legislation would ensure that British courts could never again be used to help unscrupulous companies profit from the misery of the poorest people in the world.

“There is now no excuse for the opposition parties not matching the Government’s promise and including anti-vulture legislation amongst their own manifesto commitments.”

If you want to help or support the move to clamp down on vulture funds you can sign up at the Global Poverty Promise.

UPDATE: On April 8, the bill to ban Vulture Funds became law, making Britain the first country to ban profiteering from the debts of developing countries.

The Labour Party has launched the Global Poverty Promise campaign, pushing for ambitious spending targets for international aid, enshrined in law.

The video above, which includes messages from Annie Lennox, Mariella Frostrup and Davina McCall, highlights the significance of this aim.

Under Labour, Britain has tripled its international aid budget, and has committed to increase spending to 0.7% of Gross National Income by 2013. And Labour will go further by putting into law Britain’s commitment to international aid, ensuring that UN aid targets are met and that we never turn our back on the world’s poor.

International aid has made a real difference in developing countries: more than four million people now receive treatment for HIV and AIDS, and by 2015, 500 million children will have been vaccinated against mortal diseases in immunization programmes in 70 of the world’s poorest countries.

Despite billions being spent to provide medicines and build schools in developing countries, the Conservatives have failed match Labour’s pledge.

Speaking about the campaign, Secretary of State for International Development, Douglas Alexander, said:

“The Labour Government will not turn our back on the world’s poor who have been hit hard by the economic downturn. We have kept the promises we made at Gleneagles and we will go even further by enshrining in law our commitment to spend 0.7% of our Gross National Income on aid from 2013.

“Labour’s commitment to international development is clear, but the Tories’ is not. David Cameron refuses to match Labour’s commitment to bring in the new aid law and his Tory candidates do not prioritise protecting the international development budget from cuts.”

Follow these links to find out more and make the Global Poverty Promise.

Chuka Umunna, Labour’s parliamentary candidate for Streatham, has obtained confirmation from Foreign Secretary David Miliband MP on the British government’s understanding of the political crisis in Nigeria.

Nigeria’s President Umaru Yar’Adua is reportedly suffering from a heart condition and has been receiving medical attention in Saudi Arabia since 23 November 2009. His departure from Nigeria has led to concerns about a potential power vacuum and even prompted reports of his death.

The Streatham parliamentary constituency has one of the biggest West African populations in Britain. If elected, Mr Umunna would become the first male MP of Nigerian descent to sit in the British House of Commons and the first ethnic minority MP to represent one of the 3 constituencies covering the Brixton area in London.

Commenting on the situation in Nigeria, Mr Umunna said:

“I, like many other Britons with family in Nigeria, have been monitoring the situation there closely and I know that the Nigerian community here is gravely concerned about the apparent power vacuum and the health of the President.

“Not only will the Nigerian community here want to wish the President a speedy recovery but, above all, will want to see the return of political stability.

“The President has now been out of the country for 2 months and yet he has not handed over power to his deputy as one would expect”.

Mr Umunna has been in contact with the British Foreign Secretary, David Miliband MP, about the situation. Mr Miliband has confirmed to Mr Umunna that he recently spoke with Nigeria’s Foreign Minister, Mr Ojo Maduekwe, and urged adherence to the Nigerian constitution.

Commenting on the British government’s position, Mr Umunna said:

“I have been in contact with the Foreign Secretary on this issue and he recently spoke with his Nigerian counter part, Mr Ojo Maduekwe, about the political situation in Nigeria.”

“The Nigerian community here can rest assured that the British government shares their concerns and is urging adherence to the constitution in Nigeria at all times.

“It is important that the uncertainty and leadership vacuum does not reignite other tensions in Nigeria, such as those in the Niger Delta and in northern Nigeria.”

President Yar’Adua remains in a serious condition in Saudi Arabia. He gave a 3 minute telephone interview to BBC Hausa on 12 January 2010. Nigeria’s Senate and cabinet are currently in dispute over whether the President is fit to govern.

David Miliband MP, the Foreign Secretary, introduces this video celebrating the Nigerian community’s contribution to British life.  The video was produced for a joint event between the Foreign Office and the Nigerian High Commission in London today.  The event is designed to celebrate the contribution to UK society of the significant Nigerian diaspora community in the UK, many of whom live in the Lambeth area.  If Chuka is elected at the General Election he would become the first male politican of Nigerian descent to sit in the House of Commons.

On 2 April 2009, world leaders from the G20 countries – representing 85% of the world’s output – will meet in London. They will meet against the backdrop of the worst international banking crisis in generations.

The London Summit will take place against the backdrop of exceptionally challenging economic circumstances. But, just as after the Second World War visionary leaders laid the groundwork for 30 years of prosperity and growth, built on international economic cooperation, this crisis is also an opportunity.

The world’s leading economies can come together and lay the foundations not just for a sustainable economic recovery, but also for a genuinely new era of international economic partnership – a global deal, in which all countries have a part to play and all will see the benefits.

Prime Minister Gordon Brown says,
“at the G20 we will be discussing ideas to lead the world from recession to recovery, and I want people to feel not just that they have a stake in those discussions, but that they also have a say”.

So tell us below what you want to say to the G20 world leaders before the summit and we’ll make sure we pass on as many of your comments as possible.

This week sees the start of Fairtrade Fortnight, helping raise awareness of the Fairtrade brand and the benefits it has brought to workers in developing countries. Sales of Fairtrade goods have gone from strength to strength, growing on average by 40% per year, while the worldwide market for Fairtrade goods is seventy times as large as it was ten years ago.

This trend of ethical shopping reflects a growing awareness of development issues and a desire to influence positive change. Fairtrade goods ensure a fair deal for producers through a guaranteed price and that social and environmental standards are met. The ‘Fairtrade premium’, which is the money paid on top of the minimum price for the product, is reinvested in local development projects, decided upon democratically by the workers themselves. In developing countries, Fairtrade has made huge strides in improving pay, living conditions and opportunities whilst putting local communities in the driving seat.

Trade plays a crucial role in sustainable development. As well as committing significant resources to ethical trading initiatives such as Fairtrade, the Government has led international efforts to secure fairer trading rules. The ‘Aid for Trade’ initiative helps developing countries build their trading capacities, and will receive over £400m a year from the Government by 2010.

At its heart, Fairtrade is about empowering workers in the developing world. Visit the Fairtrade foundation’s website and watch the short film above, from South Africa, to find out more about the gains it can bring.

Gabriel Huntley

On this historic day when the first Black President of the United States of America is sworn in, two local residents tell us what the inauguration of Barack Obama means to them.

“I’m excited to see what Obama’s ground breaking Presidency will bring the millions of Americans who are suffering in the current economic turmoil. His Presidency also opens up a great opportunity for Britain and the rest of Europe to work together to build peace in the Middle East, an ambitious programme to tackle climate change and will provide impetuous to meet the UN Development Goals.”
- Anne Fairweather (left with Chuka), Streatham resident and Labour candidate in London for the European elections this June 

“It dawned on me that Obama’s election is not just about the election of the first African American president of the United States, it also means that we - the black community - are fast running out of reasons to remain at the periphery of human progress.  He has shown that racism alone is no longer the reason we should not aspire and make progress.”
- Bethel Anele, Streatham resident and Obama for America campaign volunteer (Florida, 2008)

“Barack Obama has shown us that politics can genuinely work to make the world better. In the face of despondency and apathy he has reminded us that every individual can have their own unique impact on their community, their city, their country and the world. To me, Obama represents hope, wisdom, strength and the dawn of a brighter future.”
- Alice Deville, Streatham resident

You can catch Chuka between 11am and 12pm today on the BBC News Channel’s Inauguration Special. Also, check out Polly Toynbee’s Guardian column today on the inauguration and its implications for British politics which features Chuka: “We will all remember where we were today – even in lazily cynical Britain”, Polly Toynbee.

Chuka will be joining in the celebrations surrounding the inauguration of Barack Obama as the 44th President of the United States on Tuesday 20th January. In the morning, he will be appearing on the BBC News Channel between 11am and 12pm, along with other leading political figures. You can watch the BBC News Channel live here: BBC News Channel.

In the afternoon, Chuka will be paying a visit to Lambeth College’s Brixton Centre and speaking to staff and students there about the inauguration and British politics in general. The Brixton Centre is about to undergo a £50 million government funded investment programme to make it a state-of-the-art technology centre for construction, engineering and media skills training. To find out more about the Brixton Centre, visit the website: Lambeth College – Brixton Centre.

Chuka has signed a joint statement on the escalating conflict in the Middle East.

The statement calls for the immediate and permanent cessation of military activities by all combatants, urging the UK and International Community to prioritise renewing and rebuilding the Middle East peace process.

Its signatories condemn the bombing of UN schools as “both unnecessary and avoidable”, and support efforts to end the blockade of Gaza to allow the free movement of civilians and distribution of humanitarian aid.

The signatories also welcome the UK Government’s early call for a ceasefire between the two sides, but contrast it to “the deafening silence of our country’s leaders during the Lebanon conflict in 2006.”

Commenting on the crisis today, Chuka added,
 ”I appreciate the desire for Israel to act in the face of rocket attacks by Hamas targetting Israeli civilians, but Israel’s use of force in response – leading to the deaths now of over 700 Palestinians – has been totally disproportionate”.

You can read the full statement here.

Words cannot express how happy I am at the victory of Barack Obama in the US Presidential election last week.  He is a huge inspriation and I think he has all the makings of one of the finest presidents that country has seen.  Some of my personal thoughts on his election are below.

I have never seen anything like it. I had the honour of presenting prizes at Dunraven secondary school in Streatham last week, a school whose most famous ex pupil is supermodel and Streatham native, Naomi Campbell. For all her alleged faults, Campbell is an icon, but in the course of the evening the school principal mentioned a very different model – Present Elect Barack Obama.

Young people are supposedly so switched off and removed from politics that many don’t bother to vote if they can. But the instant reaction of those present at the prize-giving to the mere mention of Obama’s name was loud cheers and applause – and he is not even their president! When Labour came to power in 1997, can you imagine Tony Blair getting the same kind of response? I think not.

Everyone is asking – could we see an Obama figure in the UK? Undoubtedly Obama’s multiethnic heritage is part of his appeal. There is something in his background that we can all relate to and grab hold of. Here we have seen great progress on ethnic minority representation this last decade with the appointment of the first ever ethnic minority ministers to the Labour government – there were none before, there are 7 now. The numbers of ethnic minority MPs is projected to rise to 25 in the next parliament, up from 9 in 1998.

And though we still have a long way to go in turning Parliament into a place that looks like Britain of the 2000s rather than the 1950s, the elevation of the junior Senator from Illinois to the most powerful office on the planet surely makes further strides more, not less, likely.

Some ask whether I think my unusual name could hinder me when I ask the good people of Streatham to put a cross by my name at the next General Election – well I need not worry if someone called “Barack Hussein Obama” can make it to the White House. More importantly, many more young people who share Obama’s heritage are saying “yes I can” and taking a serious look at getting involved.

The obstacles for today’s new politicians of colour are not what they were for their parents’ generation. The army of Obama fans enthused by what they have seen in this year’s presidential election will be demanding a place at the top table. Expect to see many more putting themselves forward to be local councillors, assembly members and members of parliament in the near future.

However those who focus on Obama’s race somewhat miss the point. Yes, eight years of one of the worst US presidents in history and an economy in turmoil helped, but it was Obama’s ability to inspire and his determination to move away from the harsh, shrill, “punch and judy” politics of yesterday, to a politics of change, hope and working together across different lines which clinched it in my view. That is the model that we should all be seeking to follow.