Everything seemed to be going smoothly, a bit too smoothly perhaps, for the Debt Relief (Developing Countries) Bill. That was, until a lone Conservative MP – and there were only three in the Chamber! – shouted “OBJECT”.

That one word, echoing around a near empty House of Commons means my Private Members Bill did not get its third and final reading last week. We try again this Friday (19^th March) but realistically last Friday was the only opportunity we had to get proceedings started in the Lords before the General Election is called; there has to be a two week gap between the Commons stages and the Lords.

It was just possible, with government and opposition support, that the Bill could have been agreed in the ‘wash-up’ immediately after dissolution and, therefore, would have become law. This now won’t happen.

Indeed, the most annoying thing is how the Conservatives have led people a merry dance over my Bill. On the face of it, they supported it (albeit with some minor reservations). At second reading, they said lots of nice things about the Bill from their frontbench, and yet the tell-tale signs were there, even then. Sally Keeble, who kindly piloted the Bill through the various stages in my absence, and I wanted to try doing all the stages – 2^nd reading, Committee and 3^rd reading – all on the afternoon of 26^th February. The Liberal Democrats and the various minor parties all agreed to this approach because they supported the Bill. The Conservatives, however, wouldn’t agree to this fast-tracking approach, ensuring it had to go though each stage separately.

We continued to try and bring Her Majesty’s Loyal Opposition on board, and at Committee stage even accepted a number of concessions and amendments so the Bill could be supported by all parties and become law. The Conservative frontbench got everything they asked for, including a sunset clause, meaning the legislation would have to be voted on annually for it to continue.

Which brings me back to last Friday: just three Conservative MPs were in the Chamber. Two were Opposition whips, and one was the Chairman during the Committee Stage of the Bill. One of them shouted “OBJECT”. With that single word, not only was my Private Members Bill effectively killed, but the hopes of the 40 poorest countries in the world, too.

With that single vocal objection, the United Kingdom Parliament sadly signalled to other countries (many who are looking to introduce similar legislation) that we think it still alright for the so-called vulture funds to buy up cheap historic third world debts and then sue for full repayment with interest here in the British Courts.

View the Jubilee Debt Campaign on Vulture Funds here

Co-sign Douglas Alexander’s letter to David Cameron here