UN General Assembly
1972

104. In each of the last three years the total flow of resources from Britain multilateral and bilateral, private and public to developing countries to help them raise their standard of living has been over the target of 1 per cent of our gross national product. The existing members of the Community have already played a notable part in this international effort. But I believe that the European Community as a whole can make a much more effective contribution by co-ordinating the efforts of individual member States in a conscious, co-operative program for the development of the developing world. The deliberations of the United Nations Conference on Trade and Development fUNCTAD/ in 1972, in which we were glad to play a leading part, serve to remind us how complete is our interdependence. We must find more satisfactory solutions to the problems to which UNCTAD has drawn such graphic attention. Europe, too, can make a telling contribution to solving the accumulating problems of the twentieth century, which may be grouped under the heading "the environment". I am glad to announce that, subject to parliamentary approval, the United Kingdom will contribute up to £ 2 million over a five-year period to the proposed United Nations Environment Fund, depending on the response made to the $100 million target.