Question to the Home Office:

To ask the Secretary of State for the Home Department, whether she plans to bring forward legislative proposals on economic crime.

As set out in the Queen’s Speech, the Government is committed to bringing forward further legislation on economic crime. Building on the recently enacted Economic Crime (Transparency and Enforcement) Act, the upcoming Economic Crime and Corporate Transparency Bill will bear down further on kleptocrats, criminals and terrorists who abuse our financial system, strengthening the UK's economic security and reputation as a place where legitimate business can thrive while driving dirty money out of the UK.

This will be a joint Bill between Home Office and Department for Business, Energy and Industrial Strategy. The Bill will include reform of Companies House, reforms to prevent abuse of limited partnerships, additional powers to seize cryptoassets more quickly and easily, reforms to support more effective and targeted information sharing to tackle money laundering and economic crime, new intelligence gathering powers for law enforcement and removing regulatory burdens on businesses.

We are preparing the Economic Crime and Corporate Transparency Bill at pace and expect it to be introduced soon.