Money Laundering Debate

Full Debate: Read Full Debate
Department: Home Office
Monday 19th March 2018

(6 years, 8 months ago)

Commons Chamber
Read Full debate Read Hansard Text Read Debate Ministerial Extracts

Urgent Questions are proposed each morning by backbench MPs, and up to two may be selected each day by the Speaker. Chosen Urgent Questions are announced 30 minutes before Parliament sits each day.

Each Urgent Question requires a Government Minister to give a response on the debate topic.

This information is provided by Parallel Parliament and does not comprise part of the offical record

Ben Wallace Portrait Mr Wallace
- Hansard - - - Excerpts

Yes. The tax gap is the lowest it has ever been, and much lower than it was under Labour. We have recovered a record amount of tax that should have been gathered—£160 billion over the past few years—and that has been a major contribution to the coffers. On the register of beneficial ownership, this country has led the way. David Cameron set out his ambition for the Government, and it is still the ambition of this Government. We have led the way, and now Montserrat, one of the overseas territories, also has a public register of beneficial ownership. The key is that the territories all have a register, and it is our ambition for them to be public, but in the meantime our leadership is starting to make a difference around the world.

Angela Eagle Portrait Ms Angela Eagle (Wallasey) (Lab)
- Hansard - -

My right hon. Friend the Member for Barking (Dame Margaret Hodge) asked an extremely important question, to which she did not get an answer from the Minister. I wonder if we can try again. What changes are the Government planning to make to the due diligence for the golden visa, which establishes that someone must have £2 million they are investing in the UK before they get access to free movement here? What changes are the Government going to make to check that that money is clean? He did not answer—answer now.

Ben Wallace Portrait Mr Wallace
- Hansard - - - Excerpts

The hon. Lady will know that there are numerous registers for people’s money. CIFAS and a range of other organisations record people who have been involved in fraud and other criminal actions. There are also the Government registers, such as the police national computer. We will continue with diligence based on applications for visas. [Interruption.] Members need to come to the House and say, “This person was allowed in based on their £2 million and we have prima facie evidence that they should not have been.” We will base it on evidence. Where we find evidence that someone got the money through the wrong means, they will not be allowed a visa to come into this country.