Ministers postpone bill debate to avoid likely defeat over tax havens

Ministers postpone bill debate to avoid likely defeat over tax havens

Ministers postpone bill debate to avoid likely defeat over tax havens

But it was pulled from the parliamentary timetable at the last minute after a cross-party group of MPs planned to use it as a vehicle to crack down on money laundering in the British crown dependencies.

It has been championed by the Conservative former International Development Secretary Andrew Mitchell and the senior Labour MP Dame Margaret Hodge.

Jersey is one of the three Crown Dependencies that would have been affected by the legislation, the others being Guernsey and the Isle of Man.

It has made a decision to put off a debate on the Financial Services (Implementation of Legislation) Bill, and its associated amendments.

Mr Mitchell, the former global development secretary, said the amendment would have combatted "money laundering and tax evasion".

A Downing Street spokesperson said: "Thanks to United Kingdom leadership, all crown dependancies and overseas territories with financial centres are committed to global tax transparency standards including the exchange of information to help investigate tax evasion".

Downing Street indicated the bill had been pulled so Ministers could study the constitutional implications for the Crown Dependencies affected.

Airline allows female flight attendants to report to work without makeup
The airline's first uniforms were designed by Arabella Pollen, a 23-year-old designer at the time of its launch in 1984. The UK-based company called the move a "significant change for the aviation industry".

A spokesman said: "The government will not move the Bill today but will reschedule it to ensure there is sufficient time for proper debate". "They are responsible for their own fiscal matters".

They argue that the law would be "inoperable" and argue they already have "robust" arrangements for information sharing - and say it is wrong for laws to be imposed without their consent.

"We are committed to exchanging adequate, accurate and current information on beneficial ownership to combat tax evasion, money laundering and corruption".

The Crown dependencies and overseas territories are all resistant to such an instruction and the government has been under pressure from Labour to show that it is implementing the result of the last Hodge-Mitchell amendment, in May previous year.

The anti-money laundering amendment requires overseas territories to compile a public register showing the true ownership of companies based there by the end of next year.

Speaking in the Commons today, Hodge accused the government of a "blatant, deliberate and arrogant snub" of parliament.

The delay creates another major headache for Mrs May who faces a daunting task in driving through Brexit-related legislation regardless of whether or not she can win a Commons majority for her withdrawal agreement with Brussels.

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