Financial Assistance to Ukraine Bill

Debate between Stephen Gethins and Richard Fuller

2nd reading
Wednesday 20th November 2024 Commons Chamber

[Richard Fuller]

I will respond briefly to the debate for the Opposition. First, I commend all the speakers, and particularly the hon. Member for Amber Valley (Linsey Farnsworth). It is rare for so many in this House to congratulate a Member on their maiden speech, but it was warranted because she spoke so nicely and kindly about her constituency, as well as with great generosity about her predecessor and very movingly about her father. She should take away the great support from all Members across the House, and we wish her the best of luck in her future here.

The Minister will be aware, having listened to the debate, of the comprehensive support for the Bill. She will have heard calls from some quarters to extend the provisions of the Bill to include seizing not only proceeds from the profits, but the assets. Such a move would be a very large step for the UK to take, and I do not think the official Opposition would support that without very strong convincing from the Government. But on all the other aspects, she will have seen the comprehensive support.

[Stephen Gethins]

On the seizure of assets and the $300 billion, we were trying to make the point that this needs to be explored very seriously. It would be transformative for the Ukrainian war effort and would therefore be transformative for our security. I take on board the hon. Gentleman’s point that this is not easy and about the impact that it might have. However, will he join me in encouraging the Treasury to look at this and come back to us with further details about the possible implications and how it might take this forward, so that we can all, as a House, examine it in greater detail?

[Richard Fuller]

I think I can assure the hon. Gentleman that the Treasury looks at these options on a continuing basis, but, consistently, the point of view held by the previous Government—and I would assume by the current Government—is that that is not the right step to take. But perhaps the Minister will update the House on her views on that in a moment.

Given the support, there was the opportunity for the Government to move forward with all stages of the Bill, so that it could proceed and be completed in this House today. Will the Minister say why that decision was not made and perhaps provide some sense of the timetable for when the Bill will be brought to the House for its concluding stages? But the Opposition’s general message is that we fully support the intentions of the Bill, and we will support it on Second Reading.