Speaking in the Second Reading debate of the Economic Crime (Transparency and Enforcement) Bill, Jonathan Djanogly raises concerns about houses in rural areas owned and left empty for money laundering purposes and asks the Home Secretary if the Bill will enable them to be confiscated and resold.
Mr Jonathan Djanogly (Huntingdon) (Con)
A lot of houses are owned by criminal gangs for money laundering purposes, often in rural areas, and left empty. If people do not register, will the Bill allow us not only to impose a fine on them, but sell those properties so that they can go back to the community rather than be left there to rot?
Priti Patel (The Secretary of State for the Home Department)
My hon. Friend is absolutely right. I said that unexplained wealth orders were one of several tools, but we have other tools that have to be deployed. Registration, beneficial ownership—all those aspects are covered in the legislation, and rightly so. By accelerating the legislation, we are concentrating on the sharpest tools we can use and the powers we can bring into force in the most focused time. Expediting this legislation will send a very strong signal that the UK will not be a home for corruption.