B

Baroness Bennett of Manor Castle (GP)

Speaking in the House of Lords on 18 May 2026

Debate

Money Laundering and Terrorist Financing (Amendment) Regulations 2026

Contribution

I have just been musing on something that the noble Lord said that I think I wrote down correctly: namely, that stamp duty reserve tax liability does not indicate a significant link to the UK. We need to consider that statement in the context of how much UK infrastructure and its essential services have been privatised. I am thinking of water companies and infrastructure construction: indeed, large-scale defence companies in foreign ownership. I will understand if the Minister wants to write to me. I am not necessarily asking for a direct answer now, but what provisions do the Government have to make sure that this weakening of the regulation does not open up the ownership of some of those things that in the current geopolitical climate are of grave concern from a security aspect?

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