Asked by: Steff Aquarone (Liberal Democrat - North Norfolk)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate she has made of the amount of tax income which could be generated by new registers of beneficial ownership in overseas territories and crown dependencies.
Answered by James Murray - Chief Secretary to the Treasury
We are clear on the benefits of beneficial ownership registers, which not only include tackling illicit finance and corruption, but also fighting tax and sanctions evasion.
At the Overseas Territories Joint Ministerial Council (JMC) in November 2024, the Falkland Islands and Saint Helena committed to join Montserrat and Gibraltar in implementing fully public registers by April 2025. The British Virgin Islands, Cayman Islands, Bermuda, Anguilla and Turks and Caicos Islands agreed to implement registers of beneficial ownership, accessible to those with a legitimate interest, by June 2025. It remains our expectation that the Overseas Territories and Crown Dependencies will ultimately implement fully public registers.
The Crown Dependencies have committed to increasing the transparency of their beneficial ownership registers and are working towards implementing access to those with legitimate interest, in line with the EU's 6th Anti-Money Laundering Directive.
HMRC draws on a variety of data sources to tackle offshore non-compliance, including exchange of information under double taxation agreements and Tax Information Exchange Agreements.
Asked by: Christine Jardine (Liberal Democrat - Edinburgh West)
Question to the Foreign, Commonwealth & Development Office:
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, with reference to the meeting of the UK and Overseas Territories Joint Ministerial Council between 19 and 21 November 2024, what progress has been made on the implementation of public registers of beneficial ownership in the Overseas Territories.
Answered by Stephen Doughty - Minister of State (Foreign, Commonwealth and Development Office)
Work is ongoing to improve beneficial ownership transparency in the Overseas Territories. At the Joint Ministerial Council (JMC) in November 2024, the Falkland Islands and Saint Helena committed to join Montserrat and Gibraltar in implementing fully public registers by April 2025. The British Virgin Islands (BVI), Cayman Islands, Bermuda, Anguilla and Turks and Caicos Islands agreed to implement registers of beneficial ownership, accessible to those with a legitimate interest, by June 2025. It remains our expectation that the Overseas Territories and Crown Dependencies will ultimately implement fully public registers.
Every Territory is making progress towards these commitments and FCDO officials are in regular contact with counterparts in the Overseas Territories on their proposals for registers to ensure they meet the agreement made at JMC. I have and will continue to raise this directly with elected leaders across the Overseas Territories. I have recently spoken with the Premiers of BVI and Bermuda on this issue.
Asked by: Ben Obese-Jecty (Conservative - Huntingdon)
Question to the Department for Environment, Food and Rural Affairs:
To ask the Secretary of State for Environment, Food and Rural Affairs, pursuant to the Answer of 25 March 2025 to Question 37757 on Fisheries: South Atlantic Ocean, what assessment he has made of the impact of Chinese fishing fleets on fishing stocks in the South Atlantic.
Answered by Emma Hardy - Parliamentary Under-Secretary (Department for Environment, Food and Rural Affairs)
Defra is aware of significant fishing activity undertaken by Chinese vessels operating in the South Atlantic. There is a high level of fishing activity targeting squid in an area of the high seas to the north of Falkland Islands waters.
The Falkland Islands Government continue to gather information on the health of squid and other stocks in the region. Data is also compiled at a larger scale by The Food and Agriculture Organisation, including in its State of World Fisheries and Aquaculture report. The most recent edition of this report from 2024 highlights that in 2021, 58.8% of all assessed fish stocks in the Southwest Atlantic and 59.5% in the Southeast Atlantic were at biologically sustainable levels.
Defra is also aware that gaps in fisheries data collection still remain and continues to seek progress on addressing these gaps through the United Nations and Food and Agriculture Organisation.
Asked by: Kate Osborne (Labour - Jarrow and Gateshead East)
Question to the Foreign, Commonwealth & Development Office:
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what assessment he has made of the levels of compliance by overseas territories on providing public registers of beneficial ownership.
Answered by Stephen Doughty - Minister of State (Foreign, Commonwealth and Development Office)
At the Joint Ministerial Council (JMC) in November 2024, the Falkland Islands and Saint Helena committed to join Montserrat and Gibraltar in implementing fully public registers by April 2025. The British Virgin Islands, Cayman Islands, Bermuda, Anguilla and Turks and Caicos Islands agreed to implement registers of beneficial ownership, accessible to those with a legitimate interest by June 2025, with the necessary safeguards to protect the right to privacy in line with respective constitutions.
Every Territory is making progress towards these commitments and FCDO officials are in regular contact with counterparts in the Overseas Territories on their proposals for registers to ensure they meet JMC agreements. I have and will continue to raise this directly with elected leaders across the Overseas Territories, and have discussed with the leaders of a number of OTs including Bermuda and the British Virgin Islands in recent weeks.
Asked by: Kate Osborne (Labour - Jarrow and Gateshead East)
Question to the Foreign, Commonwealth & Development Office:
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what steps he plans to take to ensure that Overseas Territories adopt open and public registers of beneficial ownership.
Answered by Stephen Doughty - Minister of State (Foreign, Commonwealth and Development Office)
Work is ongoing to improve beneficial ownership transparency in the Overseas Territories. At the Joint Ministerial Council (JMC) in November 2024, the Falkland Islands and Saint Helena committed to join Montserrat and Gibraltar in implementing fully public registers by April 2025. The British Virgin Islands, Cayman Islands, Bermuda, Anguilla and Turks and Caicos Islands agreed to implement registers of beneficial ownership, accessible to those with a legitimate interest, by June 2025. It remains our expectation that the Overseas Territories and Crown Dependencies will ultimately implement fully public registers.
Every Territory is making progress towards these commitments and FCDO officials are in regular contact with counterparts in the Overseas Territories on their proposals for registers to ensure they meet the agreement made at JMC. I have and will continue to raise this directly with elected leaders across the Overseas Territories, and have discussed with the leaders of a number of OTs including Bermuda and the British Virgin Islands in recent weeks.
Asked by: Wendy Morton (Conservative - Aldridge-Brownhills)
Question to the Department for Environment, Food and Rural Affairs:
To ask the Secretary of State for Environment, Food and Rural Affairs, what steps his Department is taking to tackle unregulated fishing activities in the South West Atlantic Ocean.
Answered by Daniel Zeichner
The Government recognises the importance of ensuring that fishing activities on the high seas in the South West Atlantic are appropriately regulated. This is necessary to safeguard stocks and their significant contribution to the Falkland Islands’ economy as well as the wider marine environment.
Defra continue to liaise closely with the Falklands Islands Government on these issues, and to seek progress on addressing gaps in fisheries management and data collection within relevant international fora including the United Nations and Food and Agriculture Organisation.
Asked by: Steff Aquarone (Liberal Democrat - North Norfolk)
Question to the Foreign, Commonwealth & Development Office:
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what progress his Department has made on ensuring publicly accessible registers of beneficial ownership in all overseas territories.
Answered by Stephen Doughty - Minister of State (Foreign, Commonwealth and Development Office)
At the Joint Ministerial Council (JMC) in November 2024, all Overseas Territories committed to implementing registers with the maximum possible degree of access and transparency. The Falkland Islands and Saint Helena committed to join Montserrat and Gibraltar in implementing fully public registers by April 2025. The British Virgin Islands (BVI), Cayman, Bermuda, Anguilla and Turks & Caicos Islands agreed to implement registers of beneficial ownership, accessible to those with a legitimate interest, by June 2025.
UK Officials are working proactively with Overseas Territories officials to ensure their proposals meet the agreements made at the JMC. I have and will continue to raise this directly with elected leaders, including in my meeting with Premier Wheatley of BVI, in his own capacity, and as President of the United Kingdom Overseas Territories Association (UKOTA) last week.
Asked by: Wendy Morton (Conservative - Aldridge-Brownhills)
Question to the Foreign, Commonwealth & Development Office:
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what funding has been allocated from the Official Development Assistance budget for conservation projects in the Falkland Islands.
Answered by Stephen Doughty - Minister of State (Foreign, Commonwealth and Development Office)
The Falkland Islands are financially self-sufficient and do not receive Official Development Assistance. The UK Government has partnered with the Falkland Islands on several conservation projects including those supported through Defra's Darwin Plus programme. These include projects to restore native habitats, strengthen marine mammal management, and build capacity to respond to the threat of wildfires.
Asked by: Nadia Whittome (Labour - Nottingham East)
Question to the Foreign, Commonwealth & Development Office:
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what steps his Department is taking to ensure that Overseas Territories' registers of beneficial ownership accessible only to those with a legitimate interest (a) support transparency and (b) tackle illicit financial transactions.
Answered by Stephen Doughty - Minister of State (Foreign, Commonwealth and Development Office)
At the Joint Ministerial Council (JMC) in November 2024, the Falkland Islands and Saint Helena committed to join Montserrat and Gibraltar in implementing fully public registers by April 2025. Other OTs, including the British Virgin Islands, Cayman, Bermuda, Anguilla and Turks & Caicos Islands agreed to implement registers of beneficial ownership, accessible to those with a legitimate interest, by June 2025. Effective implementation will be an important step to improved financial transparency and part of our shared efforts to tackle illicit finance.
These Territories agreed that their registers would offer the maximum possible degree of access and transparency whilst containing the necessary safeguards to protect the right to privacy in line with respective constitutions. UK officials have since set out further clarifications on our requirements, ensuring access conditions do not unduly deter effective proactive investigations and analysis. UK officials are actively engaging with OT officials to ensure that they are met. I will also continue to raise this issue directly with elected leaders.
It remains our expectation that all OTs will ultimately implement registers that are fully accessible to the public.
Asked by: Martin Wrigley (Liberal Democrat - Newton Abbot)
Question to the Foreign, Commonwealth & Development Office:
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, if he will make it his policy to publish a deadline for the implementation public registers of beneficial ownership in the Overseas Territories.
Answered by Stephen Doughty - Minister of State (Foreign, Commonwealth and Development Office)
At the Joint Ministerial Council (JMC) in November 2024, the Falkland Islands and St Helena committed to join Montserrat and Gibraltar in implementing fully public registers by April 2025.
Other OTs, including the British Virgin Islands, Cayman, Bermuda, Anguilla and Turks & Caicos Islands, agreed to implement registers of beneficial ownership, accessible to those with a legitimate interest, by June 2025. The details of this commitment are set out in the JMC communique published on gov.uk. We are working with OT Governments to ensure proposals for the registers meet the requirements agreed at the Joint Ministerial Council.
Our expectation is that all OTs will ultimately implement registers that are fully accessible to the public.