(6 years, 7 months ago)
Lords ChamberMy Lords, the use by Russia of dirty money was highlighted in the report today of the Foreign Affairs Committee in respect of counterterrorism and so on. It is clear that although the two Members who have just spoken did so with great passion and knowledge, they failed to take on board the actual figures. Global Witness says that at the moment there is £34 billion of Russian money in the overseas territories, £30 billion of which is in the BVI. Why does the Russian money go there? Is it suggested that all that money is clean? Noble Lords will recall that when the noble Lord, Lord Faulks, and I among others were pointing out areas of property investment in London, we said there are several streets in the Royal Borough of Kensington and Chelsea, which we both know well, where the lights never go on at night because money—
My Lords, does the noble Lord, Lord Anderson, have the figure for black Russian assets in the UK? I imagine that there is substantially more than £30 billion.
My Lords, with the public register of beneficial ownership it should be possible to obtain those figures. It would be absurd if money that fled from the London property market went to the overseas territories and sought a haven there. Anyway, the figures that are given—I am very happy be told that the they are incorrect—are that £34 billion of Russian money is currently in the overseas territories, £30 billion of which is in the BVI, and there has been over £100 billion over the past decade. Surely a proportion of that at the very least is dirty money, and the question must therefore be posed: are we prepared to countenance dirty money finding a haven in the overseas territories? That is what is suggested.
We have to respond very sensitively. Of course there will be an economic impact, and that will only be exacerbated by the impact of the hurricane, particularly in the BVI. Because of the UK’s responsibility to these overseas territories, we will have to bear at least part of the cost, but surely we should not countenance the position that I have mentioned. If the Minister has figures other than this £34 billion, I am very happy to hear them, and if he suggests that none of that is dirty money then I will be happy to hear his view, but surely it is in everyone’s interest that dirty money be pursued wherever it is and that there be a publicly accessible register.
At the same time, the economic impact should be recognised, along with the possible damage to the constitutional position. If those countries wish to go independent, so be it. Fairly recently there was a report on the contingent liabilities to the British taxpayer of the overseas territories. I wonder where the balance would lie, if a number of these countries went independent, regarding the amount currently spent by the British taxpayer. I am happy with that, but the question must remain: if these figures are correct, and if it must be that a portion of that sum is dirty, are we prepared to allow that to continue?
(9 years, 1 month ago)
Lords ChamberMy Lords, I rise in support of Amendments 3 and 4, proposed by my noble friend Lord Hamilton. The unspoken point here is that some people believe that whatever proposition comes first on a referendum has a marginal advantage because people react to the first thing that they read. I personally rather doubt that that is the case. But there is an argument that, if you have a referendum, you do not have one to say that you want no change—you have a referendum to consider whether you want change or not. Therefore, it is not unreasonable that the change proposition should come first. But there will no doubt be an ongoing tug of war on this issue, due to the view that whichever proposition comes first has some advantage. I would like to see evidence as to whether that is the case.
My Lords, I defer to my noble friend Lord Wigley in his knowledge of the Welsh language and look forward to learning further from the Front Bench with respect to the validity of the Welsh question. I had the misfortune to attend a traditional Welsh grammar school, where I was able to give up Welsh for Greek at a tender age, but I look forward to the further debate on this—and I look forward to appearing on the same platform with the noble Lord, Lord Wigley, as we did in 1975. Indeed, the first time we met, when we got on famously, was when as a young industrialist he came to see me; I had been in the Foreign Office, working on a European desk, and he came to—wait for it—seek my advice on the European Union. We have not looked back since.
On the amendment proposed by the noble Lord, Lord Hamilton, in the earlier part of this evening’s debate we decided that the rules should be set by the Electoral Commission. At this point, surely the presumption on a matter of this sort should be—this is the very purpose of the Electoral Commission—that we defer to it in respect of such rules and, if we do not follow those rules, we have a very good reason for so doing. With all respect to the noble Lord, Lord Hamilton, and the presumption that I made, I have not heard from him a weighty case against the change and for the reversal he now proposes.