Offshore Companies: Property Debate
Full Debate: Read Full DebateLord Campbell of Pittenweem
Main Page: Lord Campbell of Pittenweem (Liberal Democrat - Life peer)Department Debates - View all Lord Campbell of Pittenweem's debates with the Foreign, Commonwealth & Development Office
(2 years, 4 months ago)
Lords ChamberMy Lords, what was agreed with the overseas territories was that they would have public registers by the end of 2023. That is the timetable they are working with. However, in terms of immediate needs as, again, has been discussed regarding sanctions in response to Russia, we worked hand in glove with them to ensure that every sanction passed by your Lordships’ House and the other place—by Parliament—is immediately incorporated into our overseas territories.
There is no delay or dither on this; we are working practically and pragmatically with our overseas territories. As I said to the noble Lord, Lord Wallace, we are working both in partnership and overseeing as part of our offering of global Britain. It is an important partnership, and we respect their rights to legislate locally on key issues, but at the same time they need to be held to account where there are issues of corruption and criminality.
My Lords, if the partnership is so productive, why is it taking five years to implement the responsibility contained in the statute of 2018? What does the Minister think the miscreants have been doing during the five years?