Economic Crime and Corporate Transparency Bill

Debate between Yvette Cooper and Catherine West

2nd reading
Thursday 13th October 2022 Commons Chamber

[Yvette Cooper]

There are plenty of aspects of the Bill that we can discuss, but I note that the Home Secretary chose not to deny any of the chaotic things that she has been saying in the papers. This is not stuff that we have made up; these are things that the new Home Secretary has been saying, which undermine her ability, and indeed the country’s ability, to deal with issues relating to national security, economic crime, fraud and migration—all the serious challenges that the country faces.

This Bill, which is long overdue, should constitute an area in which the whole country can come together and in which, across the House, there is broad agreement in the national interest. I welcome the Bill, but I am concerned that it does not go far enough. The Home Secretary will have heard the points made by Members in all parts of the House: extremely detailed work has been done by many Members with great expertise in respect of areas in which the Government need to go further. I hope that the Government will listen and will be able to go further, because the whole House will agree that action on economic crime in the UK is urgently needed.

This is a rough estimate, but the National Crime Agency says that £100 billion of dirty money flows through the UK every year, and that fraud is causing £190 billion-worth of damage. Economic crime is growing. According to the latest PwC global survey, 64% of businesses have experienced fraud, corruption or other economic or financial crime within the past two years, up from 50% just four years ago. Last year, 4.5 million frauds were perpetrated against people across the country, a 25% increase in the last few years. This is hugely damaging to families and communities, to our economy and businesses, to our international reputation, and also to our security.

The organised crime that is facilitated by weak financial systems has a deeply pernicious impact on our communities and our children, drawing young people into crime, gangs and exploitation, and fuelling the most appalling violence on our streets. It undermines our economy. It undermines legitimate businesses and financial organisations, and the thousands of people who work in them, who are standing up for high standards, are also undermined by this kind of crime and exploitation.

As I have said, economic crime is deeply damaging to our international reputation. London’s reputation as the money-laundering capital of the world is a source of national shame. Ours is a country that has long prided itself on the rule of law and on strong economic institutions, which is what traditionally made it a good place in which to invest, but that is being undermined by economic crime. United States allies have expressed frustration at the UK’s failure to tackle fully the problem of the flow of illicit Russian funds through what they have called Londongrad, and exposure to corrupt oligarchs and networks of kleptocracy means that that undermines our national security too.

[Catherine West]

My right hon. Friend is making an excellent speech. Does she agree that it is also necessary for the courts in London to accept that there are limits to how many cases can be held involving libellous action against good authors such as Catherine Belton, who wrote “Putin’s People” with the aim of educating the general population? Are not these false claims which keep coming up in court a complete waste of the courts’ time?

[Yvette Cooper]

My hon. Friend has made an important point which I hope can be explored further in Committee. There is clearly a problem when those with the deepest pockets, who effectively have endless wealth that they can draw upon, can use and abuse the court system in order to silence people. That issue needs to be addressed further.

We know that this problem has a wide impact on the state of our economy and our national security. We supported the last economic crime Bill and we support this one, although there are deep concerns about how long this process has taken, and also about the gaps. We welcome, in particular, the overhaul of Companies House, which Labour has supported and has pressed the Government to get on with, and which I know has been championed by Members on both sides of the House. It is right to give Companies House powers to check and challenge basic information. When we try to explain this to people, most of them are shocked to learn that it did not already have powers to check the identities of people trying to set up shell companies.

We welcome the measures on cryptoassets. The new technology is outpacing action against economic crime and organised crime. The power to freeze and seize criminal assets cannot just be an analogue one in a digital age. We welcome the measures to encourage information sharing to help spot fraud and money laundering, and we welcome the measures that the Home Secretary has referred to about the ability for the SRA to increase fines.

There are sensible measures in the Bill, but the delays in getting this far have caused a problem, and so do the gaps in the Bill. We are still playing catch-up rather than looking forward, and it should not have taken a war for us to get this far. Transparency International warned about serious problems back in 2015. For years, the National Crime Agency has called internally on the Home Office, the Department for Business, Energy and Industrial Strategy and the Treasury to do much more. We were promised action in 2016, in 2018 and in 2019, but as of August, fewer than half the recommendations in the Government’s 2019 economic crime plan had been enacted. The shadow Attorney General called for action on serious corporate fraud nine years ago. As shadow Home Secretary, I called 10 years ago for stronger laws and action on economic crime and fraud.

We are very clear about the importance of the matter. The Labour party believes in stronger action to defend our national interest, our economy and our national security from the organised criminals, fraudsters, corrupt oligarchs and kleptocrats. We know that that depends on having robust powers and procedures in place to defend our economy and our financial and economic institutions from fraud and abuse.

Economic Crime (Transparency and Enforcement) Bill

Debate between Yvette Cooper and Catherine West

2nd reading
Monday 7th March 2022 Commons Chamber

[Yvette Cooper (Normanton, Pontefract and Castleford) (Lab)]

I welcome the Bill before us today, at a time when rocket attacks are continuing, when homes, community centres and even kindergartens are being hit, and when families fleeing through the streets of Ukraine are being targeted for attack. The Russian President has launched an illegal war against a democratic state. It is a crime against a brave nation. As we stand united with Ukraine, we know that this is a battle for democracy against despotism.

Our country has to play its part. All of us want to see the strongest economic measures against Russia and against the oligarchs linked to the Russian regime who have made their wealth through corrupt and illicit practices, and against those who made their money not through their own sweat and toil, but through corruption and the concentration of power.

A few years ago, the Intelligence and Security Committee’s Russia report said that the UK has

“offered ideal mechanisms by which illicit finance could be recycled through what has been referred to as the London ‘laundromat’”.

That is damning. It issued this warning nearly three years ago:

“It is not just the oligarchs…the arrival of Russian money has resulted in a growth industry of ‘enablers’”—

individuals and organisations that manage and lobby for the Russian elite. Chatham House has referred to Britain’s “kleptocracy problem”.

The fact that corrupt elites from all over the world can launder their money and their reputations through our capital city is shameful. The fact that an industry of enablers has grown up here to facilitate those corrupt elites, to help them hide their money, evade tax or launder proceeds of crime is deeply damaging to our economy, to our international reputation, to the rule of law and to democracy.

So yes, we welcome the Bill. We welcome the chance of stronger sanctions and measures to make it easier to put pressure now on Russia in the face of this appalling war. We welcome the improvements to unexplained wealth orders, making it easier for the police to use them and harder for those with endless wealth to use their riches to block them, and we welcome the register of overseas entities to get some transparency and to make it harder for corrupt elites to hide their wealth in the UK property market. We will support the Bill today and support the process to get it through Parliament as fast as possible.

Many of these measures should have been introduced some years ago. Some that we need and have long been promised are not yet before us. All of us should accept that some of this action should have taken place earlier, because we had been warned. We had been warned by Transparency International back in 2015; by the evidence from leaked international documents such as the Pandora papers; by the National Crime Agency, which said that unexplained wealth orders were too hard to use; by Members of this House when we confronted the murderous intent and actions by Russian agents on British soil during the Salisbury attack four years ago; and by the damning Russia report. We were promised reforms in many of these areas in 2016. There was a consultation in 2018 and reference to a Bill in the Queen’s speech in 2019. We still do not have the much-needed Companies House reforms before us today.

[Catherine West]

Does my right hon. Friend agree that, had the Government got a move on with this years ago, we would be able to deal with phoenix companies today, which rip off members of our communities day after day? We could have dealt with that, too, in one blow.

[Yvette Cooper]

I agree with my hon. Friend that action should have been taken much earlier to address that, which should mean that there is an even greater imperative on us all now to ensure not only that this Bill passes, but that the subsequent economic crime Bill that we badly need is brought forward as swiftly as possible. That is one of the areas where the Opposition have submitted amendments.

European Union (Withdrawal) Bill

Debate between Yvette Cooper and Catherine West

3rd reading: House of Commons & Report stage: Second Day: House of Commons
Wednesday 17th January 2018 Commons Chamber

[Catherine West (Hornsey and Wood Green) (Lab)]

I thank my right hon. Friend for giving way in this tight debate. The negotiation before Christmas came down, in the end, to the Ireland question. Does she accept that allowing enough flexibility, as many of the amendments do, is crucial to the final, icing-on-the-cake deal?

[Yvette Cooper]

My hon. Friend is right. It is immensely important that we get these decisions right. I have proposed, in amendment 10, that the date should be settled in Parliament in the statute that provides for a meaningful vote on the withdrawal agreement. It is the obvious and logical consequence of agreeing to the previous amendment 7, which requires a vote on a statute. Let us set the date for departure in that statute, rather than in this Bill. I propose that when we get to the withdrawal agreement, we confirm the date, because the terms and timing of departure should go hand in hand. In that way, we do not concentrate all the power in Ministers’ hands.

We need to make sure that when Parliament has a meaningful vote, we have proper transparency and a debate on the decision, and that is why new clause 17 is so important. The Government have ruled out membership of the single market and the customs union. Everyone recognises that the single market issues are complex, linked as they are to questions of immigration and how we deal with future rules. That makes it even more important for Parliament and the public to be able to scrutinise the Government’s decisions on those complex issues. To do so, we need to know the facts and the impact on the economy and our constituencies.

On the customs union, the issues are more straightforward, but the need for transparency is the same. Being in the customs union is immensely important not just for Northern Ireland, but for manufacturers across the country, especially across the north and the midlands. The Prime Minister, we understand, has had special meetings with City financiers about what they need from the Brexit deal, but what about Yorkshire manufacturers in my constituency? Where is their chance to have their say on the customs arrangements that they need? Where is the opportunity for us all to see the impact of not being in the customs union, the impact of decisions about the single market, and the impact on jobs in our constituencies before, not after, we vote on the withdrawal agreement? The ramifications of these decisions are immense.

The amendments are about strengthening the power of Parliament, no matter what kind of Brexit we think is best, and no matter what our politics or party membership. The amendments are about the health and resilience of our democracy, and about us all working together to get these crucial decisions right.

European Union (Withdrawal) Bill

Debate between Yvette Cooper and Catherine West

Committee: 1st sitting: House of Commons
Tuesday 14th November 2017 Commons Chamber

[Yvette Cooper]

I agree with the right hon. Lady. The truth is that the plans for our Brexit future have to be sustainable and have to command consent. The plans will have implications for many decades to come. They have to give us the chance to heal the Brexit divide across the country from the referendum, and they have to give Parliament the chance to debate the details and to have a proper, honest debate about what it will mean across the country.

[Catherine West]

Does my right hon. Friend agree that had things gone differently in last week’s debate and had the information been laid before the House, emotions might not be running so high?

[Yvette Cooper]

Clearly, we need more transparency.

I want to draw my remarks to a close. My amendment gives Parliament the opportunity to indeed take back control. The hon. Member for Stone (Sir William Cash) said he wants us to debate in this House how we are governed. Well, then he should vote for my amendment, rather than concentrate power in the hands of Ministers. At a time when we have seen democratic values and democratic institutions undermined and under threat right across the world, we have an even greater responsibility to ensure that there is a proper democratic process and that we follow our obligations that come with the parliamentary Oath we took. So much of the debate we had during the referendum was about parliamentary sovereignty. What my amendment does is make that real.

Unaccompanied Children (Greece and Italy)

Debate between Yvette Cooper and Catherine West

Thursday 23rd February 2017 Commons Chamber

[Yvette Cooper (Normanton, Pontefract and Castleford) (Lab)]

I congratulate my hon. Friend the Member for Wirral South (Alison McGovern), the hon. Member for South Cambridgeshire (Heidi Allen) and others on securing this important and timely debate.

I welcome the Government’s work to support refugees by investing in camps in the region and setting up the Syrian vulnerable persons relocation scheme. I also welcome the work with the French last autumn to clear the Calais camp and get the children to safety. There has been a lot of important work, including by the Minister and the Home Secretary, and we should welcome that. I also pay tribute to their work with the French authorities in the autumn that got a lot of kids out of deeply dangerous circumstances in Calais and Dunkirk, where they were at huge risk of smuggling and trafficking, and into centres. The work brought many vulnerable children to this country and safety. This was Britain doing our bit to help some of the most vulnerable and at-risk children.

We have examples of teenage girls from Eritrea who have been abused, who have been raped and who have been through terrible ordeals but are now safe in school in Britain. We have examples of 12-year-olds from Afghanistan who are now safe with foster parents, instead of living in terrible, damp, dark, cold conditions in tents in northern France. We have teenagers now reunited with family in the UK, rather than living in such unsafe conditions.

It is because such effort—that partnership between Britain and France—was working that many of us were so shocked by the Government’s announcement on 8 February that they were not only closing the Dubs scheme, but ending the fast-track Dublin scheme, which had made so much difference to the lives of so many children and teenagers.

[Catherine West]

My right hon. Friend is making an excellent contribution. Does she agree that when we heard that news it felt as though it was going against the will of this House and against those of us who had debated, voted and in good faith believed that the Government were going to do something under the Dubs amendment?

[Yvette Cooper]

My hon. Friend is right about that, because this was a cross-party debate and cross-party work, with all of us supporting the Dubs amendment, just as it was cross-party pressure that got the Government to set up the 20,000 Syrian refugee scheme in the first place. There has been strong support from people in all parts of the House, and it was not for helping for only six months. That is the real problem with what the Government have done: it took them several months to get the Dubs scheme going in the first place, it has been running for only about six months and they have decided to pull the plug. I believe that is not in the spirit of the Dubs amendment that was agreed and passed last summer.

Refugee Crisis in Europe

Debate between Yvette Cooper and Catherine West

Tuesday 8th September 2015 Commons Chamber

[Yvette Cooper]

The hon. Gentleman is right: we should look at all the different ways in which we can play our part and work with the UN. At the same time, the EU is today asking for 160,000 people to be resettled throughout Europe. The hon. Gentleman is also right to say that the UN has called for people to be resettled from the camps themselves. We should be doing that and working together. My proposal was a suggestion of a way forward by asking councils, but there are other ways to do this. The point is that Parliament should make known our commitment and view that Britain can do more to help. That is what people across the country are telling us. I agree with the hon. Gentleman that we should be looking for ways to do more.

[Catherine West (Hornsey and Wood Green) (Lab)]

I congratulate my right hon. Friend on securing this debate. Does she agree that the organisations involved include not only councils, but national charities and local bookshops? We also have a local Songworks choir, and local schools are making collections. Children in Hornsey and Wood Green have been inspired to collect food and blankets and to give their pocket money, and churches and mosques across the piece are also involved. Somebody came to an advice surgery on Friday who was a refugee himself. I thought he wanted to discuss his own housing problem, but he has raised £14,000 through a local charity called Comkar. He was in tears and had a photograph of that little boy. He said, “That was my journey, but I made it and I want to do my bit,” so could we also reach out to and help civic communities?

[Yvette Cooper]

My hon. Friend is right, because people want to help. They want to be able to do their bit and they want us to show that we are also prepared to do our bit from this Parliament. One million people have signed petitions in the past week alone and £500,000 has been raised in 24 hours for Save the Children. Almost 4,000 people have offered to open their homes for refugees. Earlier this week, a convoy of 15 cars travelled from Birmingham to Calais filled with donations for refugees in camps there. Faith groups, community groups, workplaces, businesses and councils are also involved. A business contacted me this morning to ask how it could offer jobs to refugees and give them a new start. That is the kind of country we are—this is the best of Britain. We have to now make this the best of the House of Commons as well by responding to that demand for help and action from our country.

I urge the Home Secretary to ask communities and councils how much they are able to do to help, and to call an urgent meeting with councils, community organisations, charities and faith groups to ask how we can work together to address this crisis. I will hold such a meeting on Thursday, but they could come to her instead and be part of a Home Office and Government-led programme across the country, showing the leadership we need.

We need a clear plan. We need the Home Secretary to spend the next month working across the country to draw up a serious plan for how we in Britain can help and to address the target of how many people we can take before Christmas and over the next 12 months. Britain is showing how much it wants to do; now we need a Government who want to do their bit, too, and who are ready to live up to the country they represent.

There is a second area of disagreement. The Government have said that they want to take only refugees from the camps near Syria, not those who are already in Europe. They have said—this point has already been raised—that they do not want to give people an incentive to travel through Europe in order to get asylum in Britain. The trouble is that people are travelling already. They did not wait for any asylum statement by the British Government before deciding to pack their bags and flee. Rations have halved in some of the Syrian border camps. Parents are despairing that their children will never go to school. They cannot work or go home and they are fleeing to Europe whatever we in Britain do or say.

Let us remember that Britain has already used the incentive argument in relation to search and rescue. The boats were withdrawn to deter people from travelling. Instead, many more came, and many more drowned because the boats were not there to help. Refugees are travelling and there is a crisis now.