Economic Crime and Corporate Transparency Bill

Debate between Seema Malhotra and Harriett Baldwin

Report stage
Tuesday 24th January 2023 Commons Chamber

[Seema Malhotra]

I thank my right hon. Friend for her intervention and for the discussions that we had on this matter prior to the Report stage.

In summary, this legislation is essential, but as we have heard from across the House today, there are still areas in which it must go further if we are to catch up after years of being on the back foot on economic crime due to years of inaction. These are thoughtful and purposeful amendments that will improve the Bill, and I look forward to the Minister’s response.

[Harriett Baldwin (West Worcestershire) (Con)]

I rise to speak to new clause 20 and the amendments tabled in the name of my right hon. Friend the Member for South Northamptonshire (Dame Andrea Leadsom). I very much welcome the progress that has been made in today’s legislation and the fact that this Minister is the person responsible for taking it through, given that he used to be one of my colleagues on the Treasury Committee and is a signatory to the report on economic crime that we put out last year.

It is clear from the work that we have all done on economic crime how important the reform of Companies House is to achieving this. We have all heard horror stories of people who have stolen other people’s identities and successfully set up businesses at Companies House, and of people who have shut down one business then immediately started up another one with a different name. Clearly the reform of Companies House, as taken forward by this important piece of legislation, will make economic crime much more difficult in the United Kingdom, which is something that everyone should welcome. In the report on economic crime that the Treasury Committee put out last year, we called for resources to be put into this important work. Clearly it cannot be done without those resources, and it will be interesting to hear from the Minister today about his discussions with Companies House and his estimate of the resources required.

New clause 20 proposes a fee for new businesses of £100 rising with inflation, which would give Companies House more resources to undertake this important work and, importantly, keep its budget increasing along with inflation. I acknowledge that we do not want to set a fee at a level that could act as a deterrent to anyone starting up a small business, but the work that we did last year in the Committee suggested that the current levels of fees, benchmarked against international comparators, were very low. It was clear that we needed more resources to enable us to understand the identity of those who are establishing businesses in this country, so we pulled a number out of thin air.

I acknowledge that the figure of £100 was pulled out of thin air, although I think we probably also got evidence recommending it, but I think it is a reasonable and plausible amount at which to start these discussions. I know that the Minister is as keen as those of us who have signed this amendment to see a fee established that will ensure that the regime at Companies House has sufficient resources to manage the budget. We know that software upgrades cost money and, as we all experience rising economic crime in this country, it is important that we do everything we can to ensure that Companies House has the resources to undertake this important work.

Women and the Economy

Debate between Seema Malhotra and Harriett Baldwin

Wednesday 9th December 2015 Commons Chamber

[Harriett Baldwin]

I wish the hon. Lady would acknowledge a few of the facts that I am about to share about women in the economy. The calculations that she has been citing all afternoon do not include these basic facts. There are more women in work than ever before in this country. We have the highest female employment rate ever. We also have the lowest gender pay gap since records began.

[Seema Malhotra]

rose—

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[Harriett Baldwin]

I do not have much time, so I will make a bit of progress. Some 56% of the people who have been taken out of income tax altogether—in other words, who have had a 100% reduction in their income tax—through our increases to the personal allowance are women. Some 58% of those who receive the state pension are women—I will address the point made by the hon. Member for Worsley and Eccles South (Barbara Keeley) in a moment—and we have protected that under the triple lock. Almost two thirds of the people who will benefit from our introduction of the national living wage are women. Since 2010, women’s employment has increased faster than in the three previous Parliaments combined.

Let us compare and contrast that with the record of the previous Labour Government, under which the number of unemployed women rose by more than 200,000, or 25%. The fastest way to damage the livelihoods of hard-working women and families is to lose control of the public finances. That is the damage that we have had to fix, and we are making sure that that catastrophic situation does not happen again.

I want to address some of the important points raised today in a range of speeches—speeches from the hon. Member for Lanark and Hamilton East (Angela Crawley), my right hon. Friend the Member for Basingstoke (Mrs Miller), the hon. Member for Sunderland Central (Julie Elliott), my hon. Friend the Member for South Ribble (Seema Kennedy), the hon. Member for Paisley and Renfrewshire South (Mhairi Black), my hon. Friend the Member for Eastleigh (Mims Davies), the hon. Member for Mitcham and Morden (Siobhain McDonagh), my hon. Friend the Member for Dudley South (Mike Wood), the hon. Member for Wirral South (Alison McGovern), my hon. Friend the Member for Lewes (Maria Caulfield), the hon. Member for Worsley and Eccles South (Barbara Keeley), my hon. Friend the Member for Portsmouth South (Mrs Drummond), the hon. Member for Brentford and Isleworth (Ruth Cadbury) and the hon. Member for Ross, Skye and Lochaber (Ian Blackford).

A number of people have mentioned part-time work. It is worth remembering that 80% of the people who work part time do so because they want to. However, I agree wholeheartedly with the Chair of the Women and Equalities Committee, my right hon. Friend the Member for Basingstoke, who said that she wanted greater equality in the form of more men working part time. There is evidence that that is beginning to happen, enabling parental leave opportunities to be shared more equally.

[Seema Malhotra]

rose—

[Harriett Baldwin]

I want to address the points raised in the debate. A number of people mentioned the importance of women choosing STEM subjects at school. I am sure that Members on both sides of the House will welcome the sharp increase in the number of young women taking physics and chemistry at A-level. Careers advice was also mentioned, and it is certainly important to explain to women that a range of opportunities exist for them, and that everything should be open to them.

The women’s state pension age was mentioned a number of times, but no one pointed out that all the women affected by the change in the state pension age will benefit from the new higher state pension, or that the simplified state pension will enable women to take into account many more years that they may have spent engaged in caring responsibilities.

I would not want the Members who talked about the incredibly important issue of domestic violence to create the perception that there has not been an increase in domestic violence refuge provision, because there has. There are 13 new domestic violence refuges in this country, and the number of beds that refuges have available has increased from 3,216 in 2013 to 3,472 in 2015. [Interruption.]

--- Later in debate ---

[Seema Malhotra]

Would the Minister like to comment on the point that my hon. Friend the Member for Birmingham, Yardley (Jess Phillips) has just made from a sedentary position on those refuge figures, which was that the Minister was making them up?

[Harriett Baldwin]

I can give the hon. Lady the source, which is the online system, and I will write to the hon. Member for Birmingham, Yardley (Jess Phillips) about this.

I am proud to serve in a Government who have done so much to help women of working age, and who have improved the state pension for women in retirement. The foundations of this improvement are, of course, our sound management of the economy, which is delivering growth, jobs, security and a higher standard of living. The previous Labour Government failed to provide women with greater financial security, and Labour Members have opposed our economic reforms at every stage. They failed to support giving girls the best possible education. They failed to support women in work. They failed to address the lack of women at the top in business, just as they have failed to address the lack of women in top jobs in their party today.

The Labour party is determined to fight the 1983 general election all over again. A woman won that election, and thanks to the result of that election we are once again winning economic security, economic opportunity and real economic aspiration for women. I urge my colleagues—