(7 years, 8 months ago)
Commons ChamberThe offence of failing to prevent bribery under the Bribery Act 2010 is holding corporate offenders to account for criminal activity and has incentivised good governance within companies. A new offence of failing to prevent tax evasion is included in the Criminal Finances Bill, which is going through Parliament at the moment, and a call for evidence will be published shortly to explore the options for further reform.
I am grateful for my right hon. and learned Friend’s answer; I know he has had a busy week. I am sure he is aware that there is real concern that our regime has made it much harder to prosecute senior directors of companies that have been involved in very serious wrongdoing. When he gets on to this consultation—perhaps he could say when that will be—will he look at other regimes such as that in the US, to see how they have performed better than we have?
I hope it is no disrespect to my hon. Friend to confirm that he is not the most intimidating tribunal I have addressed this week. He is entirely right that we should look at examples abroad, as well as at domestic practice, to make sure that we are doing all we can to deal with corporate criminal offending. He is right, too, that we must address the issue of whether it is easier to prosecute those in charge of small companies than those in charge of large companies because of the complexity of the latter’s management structures, because that cannot be right.