Economic Crime: Planned Government Bill

Jim Shannon Excerpts

Wednesday 26th January 2022 Commons Chamber

[Paul Scully]

I thank my hon. Friend for welcoming the Government’s cyber strategy. He is absolutely right to highlight the importance of this area, which the Government are tackling. We will continue to do more as time allows and as we get more and more information. The legislation needs to be right for the 21st century. It needs to keep up with the areas—cyber, the dark web and so on—that criminals are using.

[Jim Shannon (Strangford) (DUP)]

I thank the Minister for his answers so far, but after the recent resignation of Lord Agnew following a lack of consideration for an economic crime Bill, there have been many calls for that decision to be reconsidered or reviewed. The Bill was set to protect and better manage the UK’s economic prosperity. May I gently remind the Minister of the £26 million robbery of the Northern Bank in Northern Ireland by the IRA? Experts state that moneys have been laundered through legitimate businesses. Alongside that, there is the £396 million of fuel duty that has been lost to the Chancellor. Through an economic crime Bill, we can address the issues relating to the IRA’s illegal and murderous activities. Will the Minister confirm to the House that every action will be taken to ensure the Bill is introduced as soon as possible to take on those who live off the backs of others?

[Paul Scully]

I thank the hon. Member, as ever. He raises the really good point that not all economic crime is international. There is a lot of home-grown economic crime and he cites just one of a number of crimes happening in Northern Ireland and across the UK. Yes, we will ensure that we bring forward measures to this place to be scrutinised and pushed through as soon as possible.