Money Laundering

Debate between Lord Rooker and Lord Agnew of Oulton

Thursday 13th January 2022 Lords Chamber

[Lord Rooker]

To ask Her Majesty’s Government what plans they have, if any, to commission an independent assessment of the scale of money laundering in the United Kingdom.

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

My Lords, the UK money laundering regulations require the Government to make an assessment of the UK’s money laundering and terrorist financing risks and to keep this assessment up to date. The Government accordingly published a national risk assessment in 2015, 2017 and 2020. Assessments detailing specific threats are published by UK law enforcement more regularly, including by the National Crime Agency’s National Assessment Centre and the National Economic Crime Centre.

[Lord Rooker (Lab)]

I thank the Minister for his Answer, but is he not curious about the effects of transnational kleptocracy by British professional service providers such as HSBC and Mishcon de Reya, which enable crooked elites to launder their money and reputations? Would he condemn, as does the recent Chatham House report, the lawyers and PR agents who make quasi-libel defamation cases against journalists and researchers researching money laundering and then go on to deter the ill-resourced regulators, who can be bought off, as in the recent Mishcon case?

[Lord Agnew of Oulton (Con)]

I am sure the noble Lord will be aware that a number of very substantial fines have been levied for breaching money laundering regulations over the last few years. In 2020, Goldman Sachs was fined £48 million; in 2019, Standard Chartered was fined £102 million; and, even in the last few weeks, NatWest was handed a fine of £264 million. This just emphasises our commitment to dealing with this whole area.

Cash Network

Debate between Lord Rooker and Lord Agnew of Oulton

Tuesday 7th September 2021 Lords Chamber

[Lord Agnew of Oulton (Con)]

My Lords, the Government welcome industry efforts to develop solutions to provide continued access to financial services. The community access to cash pilots are an industry-led initiative, taking place in eight locations in the UK at the moment. These are trialling and testing sustainable solutions for ensuring that communities can conveniently withdraw and deposit cash. The Government’s proposals for cash will enable firms to use a range of solutions, including existing facilities, to provide access to cash for the purpose of meeting geographic requirements, provided they are judged to be delivering reasonable access by the responsible regulator.

[Lord Rooker (Lab)]

My Lords, I accept that change will come but it is vital we protect those who rely on cash. It is people on tight budgets, but it goes beyond that: it is also people who are cared for in their own home, with carers who do the shopping. I declare an interest: I was shielding for months last year. Three people were doing the shopping, with cash provided sometimes before the shopping and at other times after. What was I supposed to do? Cash was absolutely vital for those transactions. You cannot give a cheque or give your plastic cards out, so the idea that it affects only a few people, and that change is on the way in digital, is nonsense—we are going to be a cash society for a long time to come.

[Lord Agnew of Oulton (Con)]

I agree with the noble Lord that we are going to remain a cash society for a considerable time, but I reassure him that, as of the first quarter of this year, over 99% of the population was within two kilometres of free cash withdrawal.

Covid-19: Economy Update

Debate between Lord Rooker and Lord Agnew of Oulton

Tuesday 27th October 2020 Lords Chamber

[Lord Agnew of Oulton (Con)]

My Lords, I suspect that this is just speculation. I am certainly not aware of any government policy promoting that. As we know, groups of six people, socially distanced, can eat if they are in an outside setting. Those facilities are being made available by pubs and restaurants, but I am not aware of any special treatment that the noble Lord refers to.

[Lord Rooker (Lab) [V]]

My Lords, first, I thank the Minister, who, unlike some of his colleagues, has shown massive respect to the House and in responding to the questions that he has been asked. That being so, perhaps I may take him back to the first supplementary question, from the noble Lord, Lord Forsyth, who called not for a coalition but for a united national effort, and I think that that is what the public want. If we stay in our tribes, we will not win. We have to reach out outside the tribe. I am looking for some desire on the part of the Government to seek to reach out, outside the tribe, so that we can have a national effort to get through this crisis. Does the Minister agree?

[Lord Agnew of Oulton (Con)]

I certainly agree with the noble Lord that this requires a national effort and that we need to avoid tribalism at all costs. What has perhaps taken us all by surprise is the long-term reaction to the crisis that we will have to sustain. I think that most of us—certainly I speak personally—thought that we could handle three months of lockdown, after which it was hoped that we could get back to our lives. The brutal reality now is that this could roll on for even another year, depending on any progress on a vaccine, which is far from certain. Therefore, the longer it goes on, the more there is a need for us to rise above our sectarian differences and to operate as a whole country.

Education: Climate Change Science

Debate between Lord Rooker and Lord Agnew of Oulton

Thursday 16th May 2019 Lords Chamber

[Lord Agnew of Oulton]

I absolutely agree with the noble Lord that this is not party-political but a generational issue, and it is our responsibility as the older generation to protect the environment for the young people of tomorrow. We do not in any way suggest that teaching these issues is party political. We have such things as the Green Great Britain Week, which took place for the first time last year, to raise awareness of how businesses, universities, schools and the public can contribute to tackling climate change, and we will be doing another one of these in November. I am certainly happy to meet the unions and the stakeholders the noble Lord referred to.

[Lord Rooker (Lab)]

In which case, will the Minister locate some tip-top teachers in schools who are providing the science on climate change to our young citizens, and invite them to come to this place for a day to teach the climate change deniers in this House what the young people are being taught? They were conspicuous by their absence in the recent debate; clearly they do not have the confidence to put their case. The fact is that the science is there, and it would be a suitable opportunity across the generations to deliver the science to them.

[Lord Agnew of Oulton]

My Lords, there is absolutely no suggestion that there is denial of climate change by this Government. Indeed, we have seen some of the most dramatic improvements in dealing with decarbonisation of the economy over the last 10 years. We are leading the way in the G20, we have reduced carbon in the economy by 4.7% per year, which is double the G7 average, and we have some of the highest levels of wind generation in the world—so I can assure the noble Lord that we are not anti or against it. However, we also have to remember that we should be worried not just about climate change but about environmental contamination.