Economic Crime (Transparency and Enforcement) Bill
Debate between Yvette Cooper and Angela EagleMonday 7th March 2022
(2 years, 1 month ago)
Commons ChamberRead Full debate Economic Crime (Transparency and Enforcement) Act 2022 View all Economic Crime (Transparency and Enforcement) Act 2022 Debates Read Hansard Text Read Debate Ministerial Extracts Amendment Paper: Committee of the whole House Amendments as at 7 March 2022 - (7 Mar 2022)
Yvette Cooper
I agree with my hon. Friend that action should have been taken much earlier to address that, which should mean that there is an even greater imperative on us all now to ensure not only that this Bill passes, but that the subsequent economic crime Bill that we badly need is brought forward as swiftly as possible. That is one of the areas where the Opposition have submitted amendments.
Dame Angela Eagle (Wallasey) (Lab)
Is my right hon. Friend as surprised and worried as I am that the Office of Financial Sanctions Implementation, which is in the Treasury, has 37.8 full-time equivalent people working in it?
Yvette Cooper
My hon. Friend makes an important point. Unless we have the ability to use the powers we have and the powers we are discussing in this Bill, in practice nothing will happen. We know that there is considerably more investment in taking some of these measures in the United States, for example. There are also issues with enforcement resources for the National Crime Agency.