Treasury: Offshore Funds

(asked on 10th February 2020) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, how much money his Department paid into offshore bank accounts in the financial year 2018-19.


Answered by
John Glen Portrait
John Glen
This question was answered on 13th February 2020

In 2018-19 the Department made £2m of foreign payments to suppliers, all of which were made to the countries where the suppliers have operations.

In 2018-19 the Department made £13k of foreign salary payments, all of which were made to the countries where the employees were resident in at the time.

All suppliers and public office holders are expected to comply with the law as it applies to offshore banking activity.

Ministers and Civil Servants also uphold the standards of conduct as set out in the Ministerial and Civil Service Code respectively, as well as the seven principles of public life.

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