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Message from the Chancellor of the Exchequer

Jubilee Scotland represents part of the unique coalition for justice founded on the simple conviction that the burden of unpayable debt on the poorest in the world is morally wrong. This coalition has helped to achieve more standing together for the needs of the poor than isolated acts of individual governments ever have achieved.

When we met in November last year 11 countries had their debt relief agreed, and I pledged that we would achieve 20 by the end of the year. Because of your efforts, we have not only met, but exceeded this target. By the end of last year, 22 of the poorest countries had their debt relief agreed. And in May this year this total reached 23 countries. Together these 23 countries will now benefit from a total $54 billion in debt relief, bringing their debts significantly below the average for developing countries.

But we all know that more must be done. More countries must reach agreement on their debt relief, and more countries need to reach completion point, as Bolivia did in June, and Mozambique has just done. And we must make greater progress internationally in getting greater, and more generous engagement, as countries exit conflict. For all countries still to secure debt relief because of conflict or the absence of poverty reduction programmes, the UK has pledged that all debt payments will be held in a trust for the day they can be returned to poverty reduction. We will also continue to ask the tough questions necessary to ensure that countries are genuinely put on a sustainable footing.

I also stressed the importance of achieving the International Development Targets for 2015: including halving the number of people living on less than $1 a day. Action on debt will play a key role. But we must do much more on health, education and many other areas. Our new health fund, which will help address the devastation caused by killer diseases such as AIDS, tuberculosis and malaria, is an example of the action Clare Short and I are taking in this field. This fund has already generated new commitments totalling over $1.8 billion.

This is just the beginning and we have some considerable way to go. We must continue in our efforts to build a global alliance of governments and civil societies that makes a reality of the virtuous circle of debt reduction, poverty relief and sustainable development. This is our task, the challenge to all of us. Working together from now and into the future it can be our achievement.