The UK government came under fire today in a new report revealing that the current climate finance proposals likely to dominate the weekend’s G20 talks will increase third world debt.

A new bill which campaign groups warn could precipitate human rights and environmental damage by UK companies is being rushed through parliament a day before the Government releases its 'green' budget.

The Jubilee Debt Campaign has warned G20 leaders that a debt crisis approaching that seen in the 1980s could engulf many impoverished countries as a result of the global financial crisis.

Debt campaigners welcome the decision of the Paris Club of creditors to cancel US$347 million of Togo's debt and impose a moratorium on remaining payments to these creditors until 2011.