International Investment Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Alan Brown
Main Page: Alan Brown (Scottish National Party - Kilmarnock and Loudoun)Department Debates - View all Alan Brown's debates with the Department for Business, Energy and Industrial Strategy
(7 years, 2 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Greg Clark
We are saying loudly and clearly that we depend on free trade, and that free trade depends on our having clarity in the rules so that investors in our companies know what scrutiny they will be subject to. That is something that business has wanted, so it is good that we are going to be clear about that.
Alan Brown (Kilmarnock and Loudoun) (SNP)
These proposals are welcome as far as they go, but if, thinking about the bigger picture, we are looking at transparency in safeguards relating to foreign investment, we will need to stamp out the laundromat money-laundering schemes that channel billions of pounds through the UK. What steps are the Government taking to eliminate the vehicles for that practice, including the Scottish limited partnerships?
Greg Clark
My hon. Friends in the Treasury are, as the House knows, active and vigorous in pursuing measures against money laundering, and that approach is an important part of this regime’s reputation for applying high standards.