Lord Faulks
Main Page: Lord Faulks (Non-affiliated - Life peer)Department Debates - View all Lord Faulks's debates with the Leader of the House
(6 years, 9 months ago)
Lords ChamberWe believe that this most certainly does go against the spirit of that treaty. We will be discussing that but, as I said, we have spoken to the Russian ambassador, we have set out our two explanations for this incident and I do not want to prejudge what may follow. We should wait, and decisions can be made on the basis of that response.
My Lords, the noble Lord, Lord Newby, suggested that the Americans may think that our response to these things is not sufficiently robust because we do not want to discourage investment into this country. Perhaps my noble friend the Leader of the House can confirm that, by introducing unexplained wealth orders and agreeing to set up a register identifying the beneficial owners of property, we are in fact ahead of the game and leading the world in trying to stamp out this sort of behaviour.
I can most certainly confirm that. In fact, the first unexplained wealth orders have already been issued by the courts.