Extractive Industries (Transparency)

Vince Cable Excerpts

Friday 1st February 2013 Written Statements

[The Secretary of State for Business, Innovation and Skills (Vince Cable)]

The Government today set out their continuing commitment to transparency within the extractive industries. The Government continue to push for agreement at European level on new rules to require large and listed companies to report payment made to all levels of Government within the countries they operate. Strong EU action to create a new global standard for transparency in the extractive industry can help these citizens hold their Governments to account.

That is why we are giving careful consideration to whether the UK will sign up to the Extractive Industries Transparency Initiative and an announcement on the outcome of this review will be made in due course.