Corporate Transparency and Economic Crime

Debate between Lisa Cameron and Kwasi Kwarteng

Monday 28th February 2022 Commons Chamber

[Kwasi Kwarteng]

I pay tribute to my hon. Friend, who has been speaking about these affairs with a great deal of knowledge and passion for many years, and I have engaged with him on these subjects. He will also appreciate that what we are doing in bringing forward this legislation does not capture the entire economic crime package. There are other measures that we will be looking to bring in very soon.

[Dr Lisa Cameron (East Kilbride, Strathaven and Lesmahagow) (SNP)]

There have been desperate calls from Ukraine that Russian and Belarusian crypto-assets be frozen and that blocks be put on users from Russia who may seek to mitigate the impact of sanctions through this means. Will the Secretary of State meet the all-party parliamentary group for crypto and digital assets, which I chair, because we want to work responsibly with the Government to make progress on this important matter?

[Kwasi Kwarteng]

The hon. Lady raises a key issue. It is of great relevance to me and my Department, and also of relevance to the Department for Digital, Culture, Media and Sport. I would like to say very briefly that the UK has led on this. The fact that Russian financial institutions are being denied access to SWIFT has been very much a success of our diplomacy, but I am very happy to talk to her about further measures.

Oral Answers to Questions

Debate between Lisa Cameron and Kwasi Kwarteng

Tuesday 23rd March 2021 Commons Chamber

[Dr Lisa Cameron (East Kilbride, Strathaven and Lesmahagow) (SNP)]

  If he will make a statement on his departmental responsibilities.

[The Secretary of State for Business, Energy and Industrial Strategy (Kwasi Kwarteng)]

In my two months as the BEIS Secretary of State, I have now held meetings with more than 200 businesses across the United Kingdom listening to their concerns and their hopes for the future. Last week, it was my real pleasure to see BEIS helping to make that future brighter when we launched our industrial decarbonisation strategy, which allocates more than £1 billion to driving down emissions from industry and public buildings. We have also published proposals for reforming audit and corporate governance, which will cement Britain’s status as the premier investment destination by raising standards, deterring fraud and empowering, potentially, a new regulator.

[Dr Cameron [V]]

The Secretary of State will be aware that the National Engineering Laboratory based in my constituency in East Kilbride has put together a vital proposal to build a clean fuels metrology centre. Given that this project enjoys cross-party support and is vital to the UK’s transition to a decarbonised economy, will he meet me, cross-party members of the all-party hydrogen group and industry representatives to discuss how to progress these important matters?

[Kwasi Kwarteng]

I would be delighted to meet the hon. Member and her associates in this enterprise. She will know that as Minister of State for Energy I was particularly keen on this new technology and I commissioned a hydrogen strategy that will be published in the next couple of months. I am very interested in this and of course I would be delighted to meet her and her colleagues.

Oral Answers to Questions

Debate between Lisa Cameron and Kwasi Kwarteng

Tuesday 21st July 2020 Commons Chamber

[Kwasi Kwarteng]

As my hon. Friend will know, in June 2020 we announced a support package to enable universities to continue their vital research. Universities will be required to use some of that funding for research normally funded by medical research charities. We are continuing to look at this situation and we hope to engage closely with charities to develop an even more robust package.

[Dr Lisa Cameron (East Kilbride, Strathaven and Lesmahagow) (SNP) [V]]

My constituents are particularly concerned about Marks and Spencer’s announcement that it will indefinitely close its East Kilbride store due to covid-19, undermining our town centre. Will the Secretary of State support a “fit to trade” licensing scheme proposed by the all-party parliamentary group for textiles and fashion—which I chair—alongside the British Retail Consortium, which will not only offer protection for garment workers across the UK, but provide an incentive for retailers to invest in UK manufacturing, creating thousands of skilled jobs and aiding the economic recovery plan?

[Kwasi Kwarteng]

The hon. Lady raises an interesting point, and I or one of my fellow Ministers would be happy to meet her to discuss it further.