Global Anti-Corruption Sanctions

Baroness Altmann Excerpts

Tuesday 27th April 2021 Lords Chamber

[Baroness Altmann (Con) [V]]

My Lords, I congratulate the Government on this Statement to fill the gap in the UK sanctions regime. I join in tributes to the noble Lord, Lord Hain, and Bill Browder. Sadly, victims of corruption rarely receive any justice, so I congratulate the Government on introducing the global anti-corruption sanctions. I encourage my noble friend to consider clamping down on cryptocurrencies, particularly given the environmental damage involved. I ask him specifically: what plans do the Government have for reform of Companies House and the foreign property ownership register?

[Lord Ahmad of Wimbledon (Con) [V]]

My Lords, first, I thank my noble friend for her support. I agree with her, and have already made the point about cryptocurrencies. As these currencies emerge, there is a need to evaluate both their regulation and their impact. I know that people across the piece are being impacted by this evolution. As I already indicated in my original answer, we have provided extra money to Companies House for register reform and transformation work. This will continue to be a key focus in strengthening our work. But I accept the premise of my noble friend’s question and that there is more to be done to strengthen the environment in which we operate, including here in the United Kingdom. We will continue to act, both domestically and internationally, to strengthen regulation in this respect.