Corporate Transparency and Economic Crime

Andrew Mitchell Excerpts

Monday 28th February 2022 Commons Chamber

[Kwasi Kwarteng]

I am grateful for the hon. Lady’s remarks. As far as the enablers are concerned, we have legislation already on the statute book. As my right hon. Friend the Foreign Secretary said in her statement, we are looking at other measures to tighten the regime.

We work with DA Ministers constantly. The Under-Secretary of State, my hon. Friend the Member for Sutton and Cheam (Paul Scully), has engaged ably and directly with DA Ministers, and we look forward to doing so.

This set of measures is only the beginning of the much tighter regime that we want to bring in. [Interruption.] People are chuntering from a sedentary position, but I would like to point out that these matters, particularly those regarding cryptocurrencies and cyber-crime, are complicated. We are trying to expedite legislation on those fronts as quickly as possible.

[Mr Andrew Mitchell (Sutton Coldfield) (Con)]

My right hon. Friend has brought excellent news to the House this afternoon, but will he at least acknowledge that the right hon. Member for Barking (Dame Margaret Hodge), my hon. Friend the Member for Amber Valley (Nigel Mills), my hon. Friend the Member for Thirsk and Malton (Kevin Hollinrake) and I have been asking the Government to do these things for the last four years and more? Will he now look at the other measures that we have advocated to clamp down on dirty money and money laundering? He is absolutely right about Companies House, but will he now ensure that it has real monkey glands for investigating, and is not just a library? That will require money and officials with great expertise, but sunlight, as ever, is the best disinfectant.

[Kwasi Kwarteng]

I welcome my right hon. Friend’s remarks. I pay tribute to him, and to Members on both sides of the House, for the excellent work that they have done in ensuring that the measures have been introduced in a timely way. I look forward to working with him to ensure that we have a good regime. Let me also point out that we have £63 million in the spending review to deal precisely with the funding of Companies House.