MSPs have unanimously backed a Bill to tackle “dirty money” in the UK amid Russia’s invasion of Ukraine.
The Economic Crime (Transparency and Enforcement) Bill was passed by the House of Commons on March 1 without opposition, and is currently in the House of Lords.
The legislation is part of a bid to tackle Russian interests in the UK and will establish a register of overseas entities - which would require foreign owners of property in the UK to declare their true identity.
READ MORE: Nicola Sturgeon confirms indyref2 next year despite Ukraine invasion
Transparency International recently estimated that more than £1.5 billion worth of UK property was bought by Russians accused of corruption or with links to the Kremlin between 2016 and 2021, the majority of that property being in London.
However, as The National previously revealed - there are numerous Russian held properties in Scotland too.
Introducing the motion to give the bill legislative consent in Holyrood, Justice Secretary Keith Brown said that the Scottish Government and parliament have “unqualified support for Ukrainian sovereignty, independence and territorial integrity” and the introduction of sanctions against Russia.
He added: “I feel the whole chamber will be united in supporting the actions we are taking to address the flagrant violation of international law by Putin's regime.
Keith Brown introduced the motion on behalf of the Scottish Government
“The people of Ukraine know that Scotland stands with them in the face of this unprovoked and unjustifiable aggression against their nation, and they can be assured that we will take all possible steps to sever ties to Putin's regime and those individuals who support it.
“That is why I'm seeking the agreement of Parliament in supporting the legislative consent motion on the Economic Crime Transparancey, an important bill introduced into the UK Parliament on the first of March.”
Michael Marra, Scottish Labour MSP for North East Scotland, lodged an amendment to the motion which would add at the end “but, in so doing, believes that the provisions of part one of the bill should apply to all land owned and registered in Scotland, regardless of when this was acquired".
READ MORE: SQA and Education Scotland replacements confirmed after report leak
Part one of the bill relates to the “registration of overseas entities”, which would force property owners to reveal their true identity, instead of using offshore firms to obscure who the real owner is.
Marra told the chamber: “My amendment sets out that there should be no backdate on assets which the Russian kleptocracy needs to declare here in Scotland. There is no logical sense as to why we must cut off at the 2014 date the land and assets they must declare.”
He later added: “The people of this land have, I believe, a right to know who holds legal ownership of our common treasury, for which we are but stewards.”
SNP MSP Michelle Thomson (above) hit out at the UK Government during the debate, stating that that UK has been “the hub for international organised crime for years”.
She added: “Worse, it is not simply that we didn't have effective legislation. We've had multiple, particularly Tory governments, deliberately blocking reform.
“For example, despite the best efforts of some, and it is on the record, the UK Government refused to tackle the criminality associated with Scottish limited partnerships and in doing so, in effect colludes with economic crime and corruption.”
Thomson also set out flaws in the Westminster Bill.
READ MORE: More than 20 Aberfeldy and Perthshire businesses pledge to sponsor 60 Ukraine refugees
She said: “The legislation allows the UK Secretary of State to exempt individuals from having to register if it's thought to be for our own well-being. Perhaps this is a perk for pals of the Secretary of State. I don't know.”
Thomson added that she supported the motion but would “reserve judgement” on the success of the bill.
Brown’s motion and Marra’s amendment both passed unanimously.
Why are you making commenting on The National only available to subscribers?
We know there are thousands of National readers who want to debate, argue and go back and forth in the comments section of our stories. We’ve got the most informed readers in Scotland, asking each other the big questions about the future of our country.
Unfortunately, though, these important debates are being spoiled by a vocal minority of trolls who aren’t really interested in the issues, try to derail the conversations, register under fake names, and post vile abuse.
So that’s why we’ve decided to make the ability to comment only available to our paying subscribers. That way, all the trolls who post abuse on our website will have to pay if they want to join the debate – and risk a permanent ban from the account that they subscribe with.
The conversation will go back to what it should be about – people who care passionately about the issues, but disagree constructively on what we should do about them. Let’s get that debate started!
Callum Baird, Editor of The National
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereLast Updated:
Report this comment Cancel