Offshore Companies: Property

Debate between Lord Ahmad of Wimbledon and Lord Sikka

Tuesday 29th March 2022 Lords Chamber

[Lord Ahmad of Wimbledon (Con)]

My Lords, at the risk of repeating myself, they are working to a timetable. For example, Tristan de Cunha, the main export of which is lobsters, is still required under legislation to have a public register; in that particular instance, and for a range of other overseas territories, we are providing direct technical support, working through both the FCDO and the Treasury, and where assistance is needed we are providing it. The bigger territories, as I have said, are actively consulting with industry to ensure that they get their partnerships right and the registers are established in line with the timetable that I have already indicated.

[Lord Sikka (Lab)]

My Lords, the UK has legal and moral responsibility for good governance of OTs and Crown dependencies. With that in mind, can the Minister assure the House that the register of beneficial ownership of companies in the BVI and in other territories will at least match the transparency standards applicable in the UK, and that they will all be publicly available?

[Lord Ahmad of Wimbledon (Con)]

That is exactly the standard we are working to with the overseas territories. We are also working to ensure that these are verifiable registers. As we see further legislation coming on increasing the robustness of the UK register, we will also apply the key principles. I agree with the noble Lord: we have a moral responsibility for good governance in the overseas territories and to ensure strong partnerships with our overseas territories’ Governments.

Cyberattack: Microsoft

Debate between Lord Ahmad of Wimbledon and Lord Sikka

Thursday 22nd July 2021 Lords Chamber

[Lord Ahmad of Wimbledon (Con) [V]]

My Lords, the noble Baroness points to multilateral action. Cybersecurity and cyber more generally remain a point of discussion within the context of the United Nations, as well as other multilateral organisations. It is worth reflecting that, when I mentioned 39 countries earlier, that demonstrates that this is an international challenge that, as the noble Baroness rightly recognises, requires international action, as on this occasion. Working with international partners and organisations, we have illustrated the need for uniform action and calling out those who seek to use cyberspace to attack other countries, organisations or individuals.

[Lord Sikka (Lab)]

My Lords, cyberattacks are part of the low-intensity warfare being waged by President Xi with the aim of securing global domination. Other weapons are terror in Xinjiang, Tibet and Hong Kong and the illegal occupation of neighbouring countries’ territories. Is it not now the time for the Government to impose trade sanctions and a ban on Chinese products and investment?

[Lord Ahmad of Wimbledon (Con) [V]]

My Lords, the Government have been at the forefront in the broader challenges. Indeed, as the UK Human Rights Minister, I am at the forefront of the work that we have done at the Human Rights Council, for example, in calling out the systematic detention and abuse of the Uighur community in particular. Most recently, we backed the Canadian statement and worked with our Canadian partners to ensure that more than 40 members at the Human Rights Council called out the situation of the Uighurs and to ensure the access of the human rights commissioner to Xinjiang. We have taken action. The noble Lord talks about sanctions, and the noble Lord, Lord Collins, mentioned them too. Back in 2018, the UK, along with 14 partners, called out, on the basis of APT 10, the action that China had taken. We work systematically and will continue to focus our activities on calling out human rights abuses wherever they occur.

Official Development Assistance

Debate between Lord Ahmad of Wimbledon and Lord Sikka

Wednesday 2nd December 2020 Lords Chamber

[Lord Ahmad of Wimbledon (Con)]

My Lords, I agree with the noble Lord on his final point. The reduction in GNI has meant a circa £2.9 billion reduction in the current aid spend, but we will fulfil our commitment to the GNI for this year. I also accept the principle that the proposal of 0.7% going down to 0.5% for 2021 presents an additional reduction. I know that the letter from my noble friend Lady Anelay to the Foreign Secretary is in the course of being responded to.

[Lord Sikka (Lab) [V]]

My Lords, I draw attention to my entry in the register of interests. There is another aspect of the ODA which the Government continue to neglect: the amount of taxes which are avoided in emerging economies and low-income countries. Last year, they lost $144 billion due to tax avoidance by corporations and the rich. The tax avoidance industries in the UK and the Crown dependencies and overseas territories are particularly responsible for that. What steps will the Minister take to ensure that the emerging economies get the taxes which are due to them? That would give them plenty of resources for development.

[Lord Ahmad of Wimbledon (Con)]

My Lords, it needs political leadership within country, but we should be lending technical support to ensure that a greater level of tax is collected within developing parts of the world. I note what the noble Lord has said.