Paradise Papers

Part of the debate – in the House of Commons at 3:39 pm on 6th November 2017.

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Photo of Mel Stride Mel Stride Financial Secretary to the Treasury and Paymaster General 3:39 pm, 6th November 2017

As the right hon. Gentleman knows, there are many reasons why individuals use trusts. It may be that I want a trust for my children and I do not want it to be known publicly exactly how that trust will operate, for reasons of confidentiality. People may use overseas trusts because they are looking at dollar-denominated trading and need a jurisdiction in which that occurs. There is a whole variety of reasons. The idea that every time the word “trust” is mentioned it suggests something grubby or illegal is plain wrong.