Overseas Territories Joint Ministerial Council Debate
Full Debate: Read Full DebateDepartment: Foreign, Commonwealth & Development Office
Tom Brake
Main Page: Tom Brake (Liberal Democrat - Carshalton and Wallington)Department Debates - View all Tom Brake's debates with the Foreign, Commonwealth & Development Office
Overseas Territories Joint Ministerial Council
Tom Brake Excerpts(8 years, 4 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Urgent Questions are proposed each morning by backbench MPs, and up to two may be selected each day by the Speaker. Chosen Urgent Questions are announced 30 minutes before Parliament sits each day.
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James Duddridge
To clarify, Mr Speaker was talking about my hon. Friend the Member for Ribble Valley (Mr Evans), rather than me.
I certainly support the moves that my hon. Friend describes. This is not just an issue of equality. A number of the territories are incredibly beautiful places and a lot of money comes into them through tourism. Even more money could come in through tourism. There needs to be greater diversity of income and a move away from financial services. Attracting everybody, regardless of their sexuality, is good for business, as well as being the right thing to do.
Tom Brake (Carshalton and Wallington) (LD)
The UK Government have made a commitment to consult on the best way to stop the UK property market becoming a safe haven for corrupt money. Has that been discussed with the overseas territories, and what progress is being made on it?
James Duddridge
That matter has been discussed. We discussed specific examples of individuals arrested in the United Kingdom. When we have looked at their assets, we have found that they were renting property, but that, on closer examination, they owned the property through offshore companies. We want to open up beneficial ownership so that we can interrogate the actual position and seize assets in a timely manner. In a number of cases, assets can be sold or transferred quite quickly, so that they are out of the reach and jurisdiction of the UK Government. One reason we place so much emphasis on financial services transparency is so that our law enforcement agencies can get their hands on assets as quickly as possible before they are moved somewhere else around the world.