Corruption: Low and Middle-income Countries

Lord Hain Excerpts

Wednesday 29th October 2025 Lords Chamber

[Baroness Chapman of Darlington (Lab)]

We are working through the unit, but, importantly, we are also working on prevention. We have a great deal of work taking place, alongside the African Development Bank, to strengthen systems in-country so that countries are able to take measures themselves to deal with this and prevent these kinds of practices, which, as the noble Lord said, so badly disadvantage countries that really need to keep that money in-country so they can spend it well for the benefit of their people.

[Lord Hain (Lab)]

My Lords, the Minister mentioned a treaty, already in draft, drawn up by international jurists from right across the world. Can she confirm that the former Foreign Secretary’s support for the principle of an international anti-corruption court remains the policy of the Foreign Office? In receiving this draft treaty, will she also bear in mind that not only should that court be supported by this Government but we have a particular responsibility, because a lot of these laundered funds come through London and then on to UK overseas territories, such as the British Virgin Islands, where they are concealed in shell companies. That has got to stop, and Britain should be taking a lead on it.

[Baroness Chapman of Darlington (Lab)]

It is not my job to speak for the Deputy Prime Minister, but our resolve on this remains unchanged and is shared by the newly appointed Foreign Secretary. My noble friend is right to raise the issue of the overseas territories. My colleague, Minister Doughty, recently met the overseas territories. There is progress. We have transparency measures, and fully transparent interest registers are available with Gibraltar, St Helena and, I think, Montserrat as well. There is more to do. Other OTs are taking steps in the right direction, but we want to see them go much further. We have taken the significant step, which I think my noble friend will appreciate, of sending the noble Baroness, Lady Hodge, to meet BVI to try to encourage it to do what we would like it to do because, as my noble friend says, this is so important in our international fight against illicit finance.