Companies: Overseas Territories Registration

Lord Bishop of Peterborough Excerpts

Wednesday 20th April 2016 Lords Chamber

[Baroness Anelay of St Johns]

I agree entirely with the view that the noble Baroness expressed.

[The Lord Bishop of Peterborough]

My Lords, while I acknowledge the good work done by the Government recently on this, does the Minister agree that public transparency is important not only in the fight against corruption but as a very significant moral issue? Does she agree that it is the duty of all Governments, including those of overseas territories, to work towards public transparency?

[Baroness Anelay of St Johns]

The right reverend Prelate is right: it is a moral matter. A very wide debate should be held on whether or not there is transparency only in cases where there is a revelation that might assist with prosecutions, either in the civil courts or criminal courts, on matters such as evasion or aggressive tax avoidance. That is a wider issue, but the right reverend Prelate is right to say that it is one that we ought to be pursuing.