Andrew has been drawn as number three in the Private Member's Bills Ballot, this means that Andrew may be able to pass his own law in this session of Parliament.
Private Members' Bills can be introduced by MPs to change the law as it applies to the general population. Only a small number of Private Members’ Bills become law but, because Andrew has been drawn so high there is a good chance his Bill may become law.
Andrew will try to pass legislation to stop funds profiteering from Third World Debt and seek to outlaw the activities of so-called 'Vulture Funds'. The Bill will seek to ban hedge funds and other creditors from taking legal action to make large profits out of the debts of some of the poorest countries in the world.
Andrew Gwynne MP said:
"These vulture funds have been engaged in completely unregulated profiteering in Third World debt. This Bill would represent a major step forward in tackling these immoral funds. It cannot be right that companies are allowed, in British courts, to make enormous profits out of the suffering of millions of the world's poorest people. At a time when Western governments are pledged to clean up the global financial sector, tackling vulture funds should be an urgent priority. This bill puts forward some basic measures to clip their wings."
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