Contributions
2,217 recent contributions in Hansard
HANSARDMoney Laundering Regulations: Politically Exposed PersonsI would be very happy to meet with the noble Baroness and other interested Peers to see what more we can do. I will clarify one point. The review of the money laundering…28 Nov 2022HANSARDFarmers and Landowners: Tax ConsequencesI reassure the noble Lord that we are cognisant of the need to ensure that our tax policy and our environmental land management schemes are working with and not against each…28 Nov 2022HANSARDMoney Laundering Regulations: Politically Exposed PersonsMy Lords, the recent review of the money laundering regulations concluded that there is still work to do to better understand the risk profile of domestic politically exposed…28 Nov 2022HANSARDMoney Laundering Regulations: Politically Exposed PersonsMy Lords, there is a difference between looking at the FCA guidance and whether it is being properly adhered to and whether that could help solve the problem that noble Lords are…28 Nov 2022HANSARDMoney Laundering Regulations: Politically Exposed PersonsMy Lords, the standards for our anti-money laundering regulations come from the FATF, which defines an international approach. My noble friend is right that we have the…28 Nov 2022HANSARDMoney Laundering Regulations: Politically Exposed PersonsI agree with the noble Lord that we should make use of the new powers we have. As I said to the House previously, we have already made a series of amendments to the money…28 Nov 2022HANSARDFarmers and Landowners: Tax ConsequencesMy Lords, we are iterating our approach as we develop these schemes. Quite a lot of them are new, and many different aspects are being piloted or developed. It is important that,…28 Nov 2022HANSARDFarmers and Landowners: Tax ConsequencesI am afraid that I cannot give the noble Lord the Answer he desires. I can confirm that HMRC is discussing the issues he has raised with Defra both to clarify how existing law…28 Nov 2022HANSARDFarmers and Landowners: Tax ConsequencesAs I said, many of the tax rules should not have a bearing on many of the environmental activities under ELMS. We already have several schemes under way, with a high take-up among…28 Nov 2022HANSARDFarmers and Landowners: Tax ConsequencesAs I said, the tax rules should not have a bearing on many environmental activities under the ELM schemes. We are cognisant, particularly where there may be a change of land use,…28 Nov 2022HANSARDFarmers and Landowners: Tax ConsequencesAs I understand it—I am working hard to make sure that I fully understand the tax implications of these schemes, but I am not yet as well versed in these things as my noble friend…28 Nov 2022HANSARDMoney Laundering Regulations: Politically Exposed PersonsI absolutely agree with my noble friend on the importance of that word and of a proportionate approach being taken in the implementation of these regulations. I know that concerns…28 Nov 2022HANSARDMoney Laundering Regulations: Politically Exposed PersonsMy Lords, as I have said, we have had an ongoing dialogue with the FCA around the guidelines. In turn, they have had engagement with those that they regulate. I do not have any…28 Nov 2022HANSARDMoney Laundering Regulations: Politically Exposed PersonsI cannot comment on an individual case, but I can be absolutely clear with my noble friend that the FCA has been clear that designation as a PEP should not be a reason to end a…28 Nov 2022HANSARDStock MarketsI think my noble friend has reminded the House on my behalf of those figures. I take the opportunity to say that we are not complacent about London’s position, and we are doing a…17 Nov 2022HANSARDStock MarketsThe noble Lord will know that risks come alongside being a premier financial centre. The important thing is that we take action to address those risks. That is what the Government…17 Nov 2022HANSARDStock MarketsThe noble Lord is right in one respect: both the rest of Europe and the UK face heightened energy prices as a result of the war in Ukraine, and jurisdictions such as the US do not…17 Nov 2022HANSARDStock MarketsOur biggest economic challenge right now is the high levels of inflation that we are facing as a country, and the biggest driver of that inflation is heightened energy prices…17 Nov 2022HANSARDStock MarketsMy Lords, according to the Global Financial Centres Index, London is the second highest-ranked financial centre in the world after New York, while Paris is 10th. The UK continues…17 Nov 2022HANSARDStock MarketsI am so glad that the right reverend Prelate has given me a chance to set out what the Government are doing. The Financial Services and Markets Bill has just completed its work in…17 Nov 2022