Oral Answers to Questions

Virendra Sharma Excerpts

Tuesday 18th April 2017 Commons Chamber

[Simon Kirby]

The Government are focused on delivering the existing deal. If the SNP Government want to do something in addition to that, it is within their power to do so.

[Mr Virendra Sharma (Ealing, Southall) (Lab)]

16. If he will support public registers of beneficial owners for all legal entities, including trusts, during negotiations on the EU anti-money laundering directive.

[The Economic Secretary to the Treasury (Simon Kirby)]

The UK has spearheaded improvements in the transparency of beneficial ownership information. Her Majesty’s Revenue and Customs is already building a register of trusts with tax consequences, which will improve transparency and assist law enforcement agencies.

[Mr Sharma]

We are now a year on from the anti-corruption summit. Will the UK now ensure that the overseas territories and Crown dependencies also have public registers of beneficial ownership?