Property Market Transparency

Business, Energy and Industrial Strategy – in the House of Commons at 12:00 am on 12th September 2017.

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Photo of Nigel Mills Nigel Mills Conservative, Amber Valley 12:00 am, 12th September 2017

What steps his Department is taking increase transparency in the property market.

Photo of Margot James Margot James Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy)

Knowing who ultimately owns and controls a company is crucial in the global fight against corruption, and the UK is leading by example. Our public register of company beneficial ownership went live in June 2016.

Photo of Nigel Mills Nigel Mills Conservative, Amber Valley

Will the Minister confirm whether the Government will proceed with the public register of companies that own high-value property in the UK and whether we will still see it in April 2018, as intended?

Photo of Margot James Margot James Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy)

We published a call for evidence on the proposal to create a new register showing the beneficial owners of overseas companies that own or buy property in the UK. The responses are currently being analysed, and we will publish a response in due course.