Oral Answers to Questions

Debate between Tobias Ellwood and David Gauke

Tuesday 8th February 2011 Commons Chamber

[Mr Tobias Ellwood (Bournemouth East) (Con)]

T3. Is my hon. Friend aware of recently passed US legislation—the Dodd-Frank Wall Street Reform and Consumer Protection Act—that obliges oil, gas and mineral extraction companies listed on US stock exchanges to declare how much they pay directly to a Government for the rights to mine those resources? This has a huge impact in Africa in tackling corruption, increasing transparency and stopping the backhanders that end up being given to Heads of State. Would he agree to meet me to see whether we can introduce such legislation here in the UK?

[The Exchequer Secretary to the Treasury (Mr David Gauke)]

I am grateful to my hon. Friend for asking that question. Indeed, last week I had a meeting with representatives of leading non-governmental organisations on this matter, and the Government are actively engaged at a European Union level to see how we can progress it. He raises a fair point.