Money Laundering

Debate between Baroness Ritchie of Downpatrick and Lord Agnew of Oulton

Thursday 13th January 2022 Lords Chamber

[Lord Agnew of Oulton (Con)]

My Lords, more than 97,000 organisations are monitored for money laundering in this country and some 54 anti-money laundering inquiries are open with the FCA at the moment.

[Baroness Ritchie of Downpatrick (Lab)]

My Lords, the Minister has referred to the work of the Assets Recovery Agency. Paramilitary organisations have undertaken considerable money laundering over many years throughout the UK. Can the Minister provide us with a detailed assessment, including figures, of the amounts that have been laundered by paramilitary organisations? I am thinking in particular of Northern Ireland, where it has had an insidious impact on society.

[Lord Agnew of Oulton (Con)]

I share the noble Baroness’s concern about money laundering getting into the hands of serious organised crime groups, but we are very much aware of such concerns. I do not think that one can put a figure on it, because, if we knew what it was, we would be able to stop it. We have created a large umbrella structure to oversee all these organisations. It is overseen by the Chancellor and the Home Secretary. Underneath that sit a number of organisations; for example, the Office for Professional Body Anti-Money Laundering Supervision. A whole range of such agencies are now working and sharing intelligence. I believe that we are getting better all the time.

Net-zero Emissions Target

Debate between Baroness Ritchie of Downpatrick and Lord Agnew of Oulton

Monday 11th October 2021 Lords Chamber

[Baroness Ritchie of Downpatrick]

To ask Her Majesty’s Government what fiscal measures they are taking in pursuit of their net zero emissions target.

[The Minister of State, Cabinet Office and the Treasury (Lord Agnew of Oulton) (Con)]

My Lords, the Prime Minister’s 10-point plan demonstrates our commitment to net zero. It sets out £12 billion of new government investment in green industries. We have set up the UK Infrastructure Bank, backed by £12 billion of capital, to help unlock more than £40 billion of overall investment in infrastructure. Carbon pricing will play a key role in helping the UK achieve net zero, at the same time as raising funds to be invested in the Government’s spending priorities.

[Baroness Ritchie of Downpatrick (Non-Afl)]

My Lords, our entire fiscal system is out of kilter with decarbonising the economy and achieving net zero. For example, look at the gas and oil sector: since signing the Paris agreement, the Government have given £4 billion to oil and gas companies. Can the Minister therefore commit, on the eve of COP, that this practice will be confined to the scrapheap of history and that those companies will receive no more funding through subsidies and tax breaks? If so, can this be included in the spending review?

[Lord Agnew of Oulton (Con)]

My Lords, it is important to point out that we need to transition to a net-zero economy in an orderly way and that we cannot immediately switch on a full net-zero energy system. We are one of the fastest reducers of coal use in the world: our coal consumption has fallen by over 80% in the last 10 years, and we remain completely committed to accelerating.

Covid-19: Economy Update

Debate between Baroness Ritchie of Downpatrick and Lord Agnew of Oulton

Tuesday 27th October 2020 Lords Chamber

[Lord Agnew of Oulton (Con)]

I respect my noble friend’s passion for this area and I agree that it is an extremely important part of our society, as I said earlier. We have put forward a cultural recovery fund of some £1.5 billion, and of course we will continue to look carefully at what more can be done to support those who are falling through the net. I just remind my noble friend that our overall employment support scheme has been one of the most generous in Europe, but the group that he refers to is extremely difficult to get to easily.

[Baroness Ritchie of Downpatrick (Non-Afl) [V]]

My Lords, what discussions have taken place with ministerial colleagues in the DWP regarding the need to extend the minimum income floor of universal credit beyond 13 November for self-employed people during the Covid outbreak?

[Lord Agnew of Oulton (Con)]

My Lords, I am aware that those discussions are ongoing but I do not have the figures to hand, so I will write to the noble Baroness about the latest thinking on that.

Brexit: Financial Assistance for Businesses

Debate between Baroness Ritchie of Downpatrick and Lord Agnew of Oulton

Wednesday 26th February 2020 Lords Chamber

[Baroness Ritchie of Downpatrick]

To ask Her Majesty’s Government what financial assistance they have provided to businesses in the United Kingdom to deal with the ongoing costs of staff training and administration as a result of the new customs rules brought in due to the United Kingdom’s departure from the European Union.

[The Minister of State, Cabinet Office and the Treasury (Lord Agnew of Oulton) (Con)]

My Lords, the Government are committed to supporting businesses in preparing for new customs processes. Since November 2018, HMRC has provided grants to help support traders, hauliers and the customs intermediary sector. This has seen some £34 million set aside to support employee recruitment, customs training and improvements to IT. Earlier this month, the Government announced the extension of the grant programme until 31 January 2021. Approximately £7.5 million of funding is still available.

[Baroness Ritchie of Downpatrick (Non-Afl)]

My Lords, I thank the Minister for his Answer. Given the statement from the Secretary of State for Northern Ireland this week that there will not be a regulatory border in the Irish Sea, and that EU Ministers warned the UK Government yesterday that the chance of reaching a trade deal will be damaged unless preparations begin for checks on goods coming into Northern Ireland ports from Great Britain, could he clear up the confusion in an unequivocal manner regarding the regulatory border issue? I understand that the London Port Health Authority has not received any such resources as those that he referred to, and I do not think that ports in Great Britain serving the Northern Ireland ports have either, so what additional resources have been made available to deal with customs preparations in terms of staff training and administration in order to comply with the Ireland/Northern Ireland protocol, as Northern Ireland will still operate under EU rules for agriculture and manufacturing products at the end of the transition period?