Stephen Doughty

I absolutely agree. The hon. Member spoke powerfully for his constituency of Strangford, as he always does. The fact that this issue impacts every part of the United Kingdom has been made very clear during the debate. I want to update the House on where there is progress and where challenges remain. At the last Joint Ministerial Council, overseas territories made important commitments to improve corporate transparency by widening access to their registers of beneficial ownership. As I set out in my written statement to the House on 22 July, all territories are making progress on their commitments to implement the registers, and that progress is welcome, but we need to keep up the pace and to challenge in cases where there has been real back-marking on the issue. I compliment St Helena, which launched its fully public register on 30 June 2025. The Falklands has shown me its draft legislation and it will have that implemented by next year—there are some capacity constraints for its officials. As has been mentioned, Gibraltar has had a fully publicly register since 2020 without any damage to its economy; the Chief Minister speaks powerfully about that issue. I compliment Montserrat, which has had a public register since 2024. The Caymans launched its legitimate interest access register in February 2025, which allows access by a range of people, including journalists. Turks and Caicos launched an LIA register on 30 June, we understand that Anguilla will implement within the next few months, and we have talked much about Bermuda and the BVI. I want to reassure all right hon. and hon. Members that this issue remains a major priority for the Government. The overseas territories will have heard this debate, and the strength of feeling. Our commitment on this issue sits alongside our commitments to the relationship with the overseas territories more broadly, and to tackling corruption and illicit finance globally, which will be highlighted by the summits that were mentioned.