Question to the Cabinet Office:

To ask the Minister for the Cabinet Office, what the Government's policy is on requiring companies bidding for government contracts to declare their ultimate beneficial ownership before a decision to award such contracts is made.

At the Anti-Corruption Summit held in London on 12 May we announced our intention to require foreign companies to provide ‘beneficial ownership’ information to a new, publicly accessible register prior to being able to buy or sell UK property or bid for UK central government procurement contracts. We will be consulting on proposals later this year.

The UK will be first country in the world to require this.