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Debate between Mike Kane and David Gauke
Tuesday 1st March 2016
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(8 years, 8 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mike Kane (Wythenshawe and Sale East) (Lab)
T2. The OECD has estimated that tax havens are costing developing countries three times the global aid budget. Does the Chancellor share my frustration over the fact that the UK overseas territories have ignored the pleas of the Prime Minister, and have not introduced beneficial ownership registers? What more can be done to end the secrecy and inaction?
The Financial Secretary to the Treasury (Mr David Gauke)
The United Kingdom is leading the way in respect of a public register of beneficial ownership, but other countries, including the overseas territories, are not committed to that. We continue to engage with them, because we believe that they should follow the same direction as us—as, indeed, should other countries.