UK sign up to EITI is step in the right direction
Ivan Lewis MP, Shadow International Development Secretary,responding to the Government’s announcement it intends to sign-up to the Extractive Industries Transparency Initiative (EITI), said:
“This is a welcome step in the right direction. As part of our G8 campaign, Labour has been urging the Government to immediately adopt and implement the EITI.
“Lack of transparency is a significant burden on developing countries, affecting their ability to collect taxes and fund their own services. We urge the Government to use the G8 meeting to encourage other countries to sign up and advance transparency measures in other sectors. These measures would be a boost for developing countries,enabling them to increasing their tax revenues and reduce their dependency on aid.”