International Financial Fraud

Lord Ahmad of Wimbledon Excerpts

Monday 14th September 2026 Lords Chamber

[Baroness Anderson of Stoke-on-Trent (Lab)]

The noble Lord raises an important point. The overseas territories and Crown dependencies are committed to meeting international standards on tax transparency, anti-money laundering and illicit finance. They have committed to introducing publicly accessible registers of beneficial ownership, going beyond international standards set by the Financial Action Task Force and putting them ahead of most jurisdictions. The UK Government respect their constitutional autonomy on domestic tax matters while supporting the implementation of these commitments, including through technical assistance and engagement with organisations such as Open Ownership. The overseas territories and Crown dependencies are also independent members of FATF and therefore are subject to those standards that are set out. They have committed to combating financial crime in their relevant jurisdictions.

[Lord Ahmad of Wimbledon (Con)]

My Lords, as a former Minister for the Overseas Territories, I worked closely with our OTs. Many of them represent the best of British and we should stand by and support them. They operated a scheme of exchange of notes, which allowed for legal authorities and tax authorities to get through. Can the Minister reassure me that overseas territories that need support will be supported by His Majesty’s Treasury? Some do not require a SAMLA register: Tristan da Cunha does great lobster, but it is not a centre for financial services. Can the Minister reassure me that we will look at this tactfully and strategically?

[Baroness Anderson of Stoke-on-Trent (Lab)]

I will have to take the noble Lord’s word for it on whether the lobster is any good; being Jewish, it is not really something I would have tried. However, the noble Lord is absolutely right. Where our Crown dependencies require our support, they will get it. Where it is not appropriate for them to operate in that space, it would seem a tad illogical for us to deploy resources in that way.

Falkland Islands: Fisheries Exports Tariffs

Lord Ahmad of Wimbledon Excerpts

Thursday 10th July 2025 Lords Chamber

[Baroness Anderson of Stoke-on-Trent (Lab)]

My Lords, it is a stretch to go from fishing to agriculture, but I am more than up for the challenge. A thriving agriculture sector underpins our food security and supports the prosperity of regional communities across the UK. We will continue to seek fair and balanced deals, which include new export opportunities to grow the UK’s world-class agri-food and drink sector, which is the world’s largest manufacturing sector. In no small part we have already seen some of those arrangements with regard to the SPS deal, which will make trade better, including for fishing, and will help contribute an additional £9 billion a year in exports and growth to the UK economy.

[Lord Ahmad of Wimbledon (Con)]

My Lords, one of the points raised consistently by the Minister is about Brexit and the legacy left. I am sure she would acknowledge, as she did in her original Answer, that all of the trade deals which are now being made are provided by the flexibility of the Brexit dividend. I, like her, campaigned for remain, but I recognise the flexibility we now have. My question is focused on the reset. I am sure the noble Baroness will acknowledge, as the President of France did, the importance of the Windsor Framework and, indeed, the Blenheim Palace summit. Let it not be forgotten that the principle of that summit was made by the previous Government, as was acknowledged by the President of France and the Minister can acknowledge today. My question is specifically on the sovereignty of the Falkland Islands. One of my last acts as a Minister was in Paraguay with the OAS, restating the unstinted sovereignty of Britain over the Falkland Islands, the Sandwich Islands and all the related maritime areas. Can the Minister restate the importance of that sovereignty and that it is not up for negotiation?

[Baroness Anderson of Stoke-on-Trent (Lab)]

Yes, there is no room for questioning British sovereignty with regard to the Falkland Islands.