International Anti-Corruption Court

Lord Wallace of Saltaire Excerpts

Monday 2nd September 2024 Lords Chamber

[Baroness Chapman of Darlington (Lab)]

I take my noble friend’s point; I have heard him say such things in this Chamber on many occasions in the past. We need as many tools in our toolbox as we can assemble. However, unless we get the building blocks in place—in terms of international agreements and agreed principles and other nations’ domestic processes—then a court will be less likely to be successful than if we are to get those building blocks in place first.

[Lord Wallace of Saltaire (LD)]

My Lords, in the fight against corruption, transparency of ownership and of financial transactions is clearly important. We have seen a number of things in recent years about Crown dependencies and overseas territories agreeing to make transactions and ownership within their jurisdiction more transparent. The actual agreement, however, has not led to enforcement. Will the Government take action to ensure the voluntary agreement which overseas territories are asked to make is actually made and enforced?

[Baroness Chapman of Darlington (Lab)]

The noble Lord is right to raise this; it is a work in progress. We are in close engagement with overseas territories on the sharing of information and on registration of ownership. We have done a lot of work in the UK relatively recently on this, which I know the noble Lord will be aware of, but he will appreciate that this is the subject of ongoing discussions and engagement with overseas territories.