Company Directors: Identification Debate
Full Debate: Read Full DebateLord Anderson of Swansea
Main Page: Lord Anderson of Swansea (Labour - Life peer)Department Debates - View all Lord Anderson of Swansea's debates with the Department for Business and Trade
(6 months, 3 weeks ago)
Lords ChamberI thank my noble friend for that point. We are making very good progress and we collaborate with all such jurisdictions. There is more work to be done. A consultation on how much identity can be published has concluded recently, and we will report back to the House when we have our own findings that are appropriate for these measures.
My Lords, sunlight is the best disinfectant. Andrew Mitchell said recently that over 40% of laundered money globally passes through London. How satisfied are the Government that the overseas territories and the Crown dependencies are indeed making progress on registers? Surely they are defying the Government.
I am afraid that I will push back slightly on the noble Lord’s point. We have had extremely high degrees of collaboration with the overseas territories. We are now very clear on who the beneficial owners are of land in this country, and, as I said, we have just completed a consultation that will allow us to go further in ensuring that everything is extremely transparent. I truly believe that real progress has been made, without impinging on the ability of legitimate businesspeople to open companies, run their businesses, make profits and grow the economy.