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PMQ on Registers of Beneficial Interest

Mike Kane, Wythenshawe & Sale Esat
Even “fantastically corrupt” Nigeria is asking Britain to clean up its act and introduce beneficial ownership registers in the overseas territories. Will the Prime Minister achieve that tomorrow at the anti-corruption summit?

The Prime Minister
First, I had better check that the microphone is on before speaking. It is probably a good idea.
I thank the hon. Gentleman for his question. The answer is yes. We have asked three things of the overseas territories and Crown dependencies: automatic exchange of tax information; a common reporting standard for multinational companies; and central beneficial ownership registries so that UK enforcement can know who really owns the companies that are based there. They have delivered on the first two, and they will be following and delivering on the third. That is what he asked for, and that is exactly what he is getting.

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