MP, Labour's Shadow
Chancellor, commenting on overwhelming
support for the introduction of a register of property,
said:
“As the Government continues to drag its heels and break promises
on tackling money laundering, British property is being used
as a safe haven for dirty money.
“Whilst any action to tackle financial crime is a step forward,
Labour still hasn’t heard anything as why the implementation has
been delayed and our calls for bringing forward the timetable
have been consistently opposed.
“We have to stop crooks, criminals and the corrupt.
“The Government needs to stop stalling and start acting. It
is now a matter of urgency that a register of property owning
overseas companies is introduced.”
Ends
Notes to Editors:
- New data also released today
(https://www.gov.uk/government/news/up-to-5-years-in-prison-for-criminals-who-use-uk-property-market-for-money-laundering)
shows nearly three-quarters of those surveyed in the UK property
market agree that this new register will lead to an increase in
transparency and will reduce the potential for illegal activity.
- The Government recently
committed to publishing this register by summer 2018, but earlier
this year announced that full implementation won’t be until 2021.
- Labour tabled an amendment
to the recent Sanctions and Anti-Money Laundering Bill – opposed
by the Tories - calling for the register to be in
place within 12 months.
