Speech in Commons Chamber - Wed 09 Mar 2016
Enterprise Bill [Lords]
"I am grateful to the Minister for giving way; he is obviously trying to defend a difficult position. The Government support the measure and the Opposition oppose it, yet several of the Minister’s party colleagues share deep concern, tapping into a conservative tradition of trying to preserve our institutions. I …..."Gavin Shuker - View Speech
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Speech in Commons Chamber - Wed 09 Mar 2016
Enterprise Bill [Lords]
"Will the Minister give way?..."Gavin Shuker - View Speech
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Speech in Commons Chamber - Wed 09 Mar 2016
Enterprise Bill [Lords]
"Let me underline the point made by the hon. Member for Enfield, Southgate (Mr Burrowes). If we want enhanced provisions, surely the logical thing is to vote for amendment 1. There is nothing to prevent the Minister from bringing his provision forward in the House of Lords, regardless of the …..."Gavin Shuker - View Speech
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Written Question
Wednesday 8th July 2015
Asked by:
Gavin Shuker (Independent - Luton South)
Question
to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what assessment he has made of the level of take-up of public registers of beneficial ownership in the UK's Overseas Territories and Crown Dependencies; and what steps he is taking to persuade such areas to adopt the UK's standard for transparency of company ownership.
Answered by David Gauke
International standards on anti-money laundering and counter terrorist financing, including transparency of legal persons, are set by the Financial Action Task Force (FATF) of which the UK is a leading member. The Caribbean Overseas Territories (OTs) are members of the Caribbean Financial Action Task Force and as such have signed up to implement the FATF standards. Similarly, the Crown Dependencies (CDs) are members of MONEYVAL, the equivalent organisation for Europe. The OTs and CDs are also subject to mutual evaluations of their AML/CTF regimes through these bodies. The UK Government continues to engage actively with the OTs and CDs to encourage them to make improvements to their AML and CTF regimes in line with the international standards and the UK’s approach.
More specifically, the Government expects each of the OTs with a financial centre to set out timetables for implementing central registries or similarly effective systems by November 2015. The Minister for the Overseas Territories and I wrote to the Leaders of the British Virgin Islands, the Cayman Islands and Bermuda, which already has a central register, in March stressing the importance of adhering to their commitment to help combat tax evasion.
Finally, The Government welcomes the commitment already made by the Government of Gibraltar to implement the EU Fourth Money Laundering Directive which includes a central register of company beneficial ownership.
Written Question
Tuesday 7th July 2015
Asked by:
Gavin Shuker (Independent - Luton South)
Question
to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what steps he is taking to make country-by-country tax reporting rules publicly available.
Answered by David Gauke
The UK introduced legislation in Finance Bill 2015 in order to implement the G20-OECD model for Country-by-Country reporting. This will require multinational companies to provide information on the global allocation of income, economic activity and taxes, and will give tax authorities a clear picture of a multinational company’s global business, whilst ensuring the administrative costs for businesses are minimised.
The OECD model for Country-by-Country reporting to tax authorities is for high level risk assessment purposes and includes protections to ensure sensitive information remains confidential. Making the reporting information public would not enhance risk assessment for tax authorities. The UK has however transposed the EU Capital Requirements Directive IV, which requires public reporting for the banking and capital markets industry.
The European Commission has launched a public consultation on this issue and will evaluate the costs and benefits of different forms of Country-by-Country reporting, including the public disclosure of this information. The UK will be interested in understanding their findings.
Speech in Commons Chamber - Fri 20 Mar 2015
Budget Resolutions and Economic Situation
"My right hon. Friend has made an excellent point. There are people who are working—working in many of the jobs that have been trumpeted by the Conservatives—but are not earning enough to put food on their tables and a roof over their heads. That is one reason why the Conservatives …..."Gavin Shuker - View Speech
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Speech in Commons Chamber - Fri 20 Mar 2015
Budget Resolutions and Economic Situation
"The right hon. Gentleman makes his case clearly and in a statesmanlike manner, but I was in this House when he was taking through the legislation on fees. There were 91 speakers over those two days. I did not have the opportunity to speak but I was one of only …..."Gavin Shuker - View Speech
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Speech in Commons Chamber - Fri 20 Mar 2015
Budget Resolutions and Economic Situation
"I do not know whether the right hon. Member for Havant (Mr Willetts) is taking the opportunity of making a valedictory speech next Thursday...."Gavin Shuker - View Speech
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Speech in Commons Chamber - Fri 20 Mar 2015
Budget Resolutions and Economic Situation
"He is. Good. In that case, I need not offer any further praise other than that which many Government Members expressed when he sat down.
Mr Deputy Speaker, as you know, for the rest of us, life goes on. I am a diligent young man, as you know, so I …..."Gavin Shuker - View Speech
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Speech in Commons Chamber - Mon 10 Nov 2014
EU Budget (Surcharge)
"Given that the relationship between GDP and the European Union budget was understood before this series of events, and yet the Government appeared to be asleep at the wheel, what was the reason for their reluctance in getting their act together properly in the first place? Was it the Chancellor’s …..."Gavin Shuker - View Speech
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