Corporate Transparency and Economic Crime

Richard Fuller Excerpts

Monday 28th February 2022 Commons Chamber

[Kwasi Kwarteng]

As I noted, observed and made very clear, we have a spending review settlement of £63 million for Companies House, which is a considerable uplift on previous budgets. There is a commitment to make sure we have the resources to police this new regime.

We speak to colleagues in the devolved Administrations all the time, and I am even happy to discuss these issues with the right hon. Gentleman, should he be so minded.

[Richard Fuller (North East Bedfordshire) (Con)]

I welcome my right hon. Friend’s statement, because clamping down on illicit international flows of capital is a good thing. Another good thing is open, legitimate global capital markets, where the City of London excels, supporting entrepreneurs in our country. Can my right hon. Friend assure me that, in bringing forward his legislation and the White Paper, he will pay due regard to the positive aspects of international capital, as well as clamping down on the illegal ones?

[Kwasi Kwarteng]

Absolutely. I am not embarrassed at all in agreeing with my hon. Friend that London is a hub of international capital, which is one of the great strengths and glories of our economy. I will do all I can, as I am sure he will appreciate, to make sure we protect that precious heritage.