Labour comments on Economic Crime Bill

Rachel Reeves MP, Shadow Chancellor of the Exchequer, commenting on the delay to the Economic Crime Bill, said: 

"It's not right that such huge sums of dark money linked to the Russian regime are allowed to flow through the UK. 

"This must be a turning point on having a soft touch on illicit finance flowing through the UK. 

"But instead - the day after Russia has invaded the Ukraine - the Conservatives have chosen to delay the Economic Crime Bill, breaking the promise they made to introduce it in this session. 

"This is a mistake and sends entirely the wrong message. The government must think again and immediately speed up action on tackling illicit finance and drawing a line on oligarch impunity in the UK." 

Ends 

Notes to Editor 

• The government committed to the Economic Crime Bill in the Queen’s Speech in May 2021. https://lordslibrary.parliament.uk/queens-speech-2021-home-affairs/
• Boris Johnson stated in PMQs today that the Bill will now be published “in the next session” of parliament.