Emily Thornberry
Main Page: Emily Thornberry (Labour - Islington South and Finsbury)Department Debates - View all Emily Thornberry's debates with the Department for Education
(11 years, 2 months ago)
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Vince Cable
It is fair to say that our manufacturing companies have a great deal more influence and we agree with them. I would add one point: it is not just about manufacturing. A recent survey by CityUK suggested that 60% of banks in London are here because we are part of the single market.
Emily Thornberry (Islington South and Finsbury) (Lab)
11. What plans he has to publish the Government’s planned register of companies’ beneficial ownership.
The Parliamentary Under-Secretary of State for Business, Innovation and Skills (Jo Swinson)
The UK has committed to implement a central registry of company beneficial ownership information, accessible to law enforcement and tax authorities. We recognise the potential benefits of making the information available publicly and have consulted on that. That consultation closed in September and we are now analysing the responses. We will issue a Government response in due course.
Emily Thornberry
The Prime Minister has expressed his personal support for a public register and is supported in that by four former Labour Home Secretaries, the British Bankers Association and anti-corruption non-governmental organisations, but, as my mum used to say, fine words butter no parsnips. Will he take the opportunity of the open government partnership summit, which I understand will happen later this month, to confirm that the Government will have an open and public register of beneficial ownership of companies?
Jo Swinson
The hon. Lady is right to mention that the Prime Minister has shown a great deal of leadership on that, not least at the G8 summit in June, where he also said that he has a huge amount of sympathy with the idea of making that information fully public. I am sure she will appreciate that we are analysing around 300 responses to the consultation. I am certain that more information will be forthcoming to the House and beyond as we set out what we plan to do to introduce a register of beneficial ownership, which we have committed to do within this Parliament.