Sir Iain Duncan Smith

Sir Iain Duncan Smith

Conservative — Chingford and Woodford Green

Speaking in the House of Commons on 9 September 2025

Debate

Diego Garcia Military Base and British Indian Ocean Territory Bill

Contribution

I am grateful to my right hon. Friend. Just to settle this whole argument about net present value, the reason it simply cannot be used for a long-term treaty obligation is that it is necessary to make a really heavy estimation of what will happen socially and economically in that area. It is just about possible to use some of that in the UK, where the Government control certain aspects, which they will not control after this treaty is signed. That is why it has been recommended that it not be used for long-term effects when not within the UK. That is why the actuarial department advised going for the total amount, not this net present value.

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