Criminal Finances Bill

Mark Tami Excerpts

2nd reading: House of Commons & Money resolution: House of Commons & Programme motion: House of Commons
Tuesday 25th October 2016 Commons Chamber

[James Berry]

I will carry on, if I may.

[Mark Tami (Alyn and Deeside) (Lab)]

Will the hon. Gentleman give way?

[James Berry]

No.

I hope that this provision will have the same effect that health and safety legislation has had, with companies taking the lead in rooting out bad practice to avoid being liable themselves for incidents caused by their employees. Some businesses might dismiss this as red tape, but if it is red tape, it is important red tape that is focused on the aim that it is trying to achieve. It is important to ensure the integrity of our world-leading financial services sector in London, and these measures have been welcomed by many in the industry, including the chief executive of the British Bankers Association, even though I do not necessarily support the utterances he made earlier this week.

I have touched on just a few of the provisions in the Bill. It also contains many tidying-up provisions that are extensions of existing laws and that are based on feedback given to the Government by the police and law enforcement agencies on the deficiencies in their current powers. That approach is to be warmly welcomed, because when it comes to the fast-moving world of criminality that our police are trying to prevent and detect, we in this House must be fleet of foot. I believe that the Government are achieving that today. I am sure that hon. Members on both sides of the House will welcome the aims of the Bill unreservedly, and I hope that by the time it has been through its Committee stage, all its clauses will have been accepted.

--- Later in debate ---

[Dame Margaret Hodge]

I agree entirely with my hon. Friend’s comments.

[Mark Tami]

While we support the Bill, does my right hon. Friend agree that the danger is that we might drive even more business to the overseas territories and encourage even more of the problems that have already been identified?