Luke Pollard

Luke Pollard

Labour (Co-op) — Plymouth Sutton and Devonport

Speaking in the House of Commons on 9 September 2025

Debate

Diego Garcia Military Base and British Indian Ocean Territory Bill

Contribution

The hon. Gentleman’s intervention is not about Chagossians, but I realise I could not take his intervention earlier. He asks about the meaning of the social time preference rate in relation to the deal. Discounting in appraisal of social value is based on the concept of time preference, and that the value of goods or services today is greater than in the future. This is the discount rate that has been used in the Green Book since 2003, including in every year that his party was in Government. It was the basis on which this was there.

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