Economic Crime: Planned Government Bill

Baroness Bennett of Manor Castle Excerpts

Monday 31st January 2022 Lords Chamber

[Lord Callanan (Con)]

The issues are not necessarily related. We are continuing to pursue many of the frauds that the noble Lord referred to. I can give the House some examples. The Insolvency Service has already achieved 86 director disqualifications, 39 bankruptcy restrictions have been imposed, and 13 live companies have been wound up in the public interest. It has also identified 947 further director disqualification and 46 criminal cases for investigation, all of which contain an element of bounce-back loans scheme abuses. That scheme was put in place in response to a global pandemic at a very rapid pace, and I think all noble Lords can agree that it succeeded in saving many businesses and many hundreds of thousands of jobs in this country. However, we will not tolerate any abuses of the scheme, and we will continue to pursue people who are fraudulently benefiting from it.

[Baroness Bennett of Manor Castle (GP)]

My Lords, there is clearly a problem of international confidence in the UK’s financial governance system. Without targeting any particular party, are the Government considering controls on financial donations to all political parties and candidates, as a way of restoring international confidence?

[Lord Callanan (Con)]

I thought that I had come to answer questions on an economic crime Bill, but I see that we are getting into party-political donations again. That is not a matter for which I am, or my department is, responsible, so I am unable to furnish the noble Baroness with a response to her question.