Whilst welcoming measures to investigate criminality and sanctions-busting schemes at Companies House, Jonathan Djanogly cautions against overburdening the registration process to the extent that we lose competitive advantage.
Mr Jonathan Djanogly (Huntingdon) (Con)
I welcome the statement. While I fully support efforts to have the means to investigate criminality and sanctions-busting schemes at Companies House—and I hope that that will be properly funded, because it will be expensive to carry out—I also hope that the process of registration will not be burdened to the extent that we lose competitive advantage and throw the baby out with the bathwater.
Kwasi Kwarteng (The Secretary of State for Business, Energy and Industrial Strategy)
I think my hon. Friend is right. There is always a balance to be struck in legislation of this sort, but I think that, as he takes the temperature of the House, there is a real feeling that we need to expedite it. I feel confident that it strikes the right balance between fairness and transparency, and will not be overburdening people with bureaucracy.