Free Zones: Money Laundering and Tax Evasion

Treasury written question – answered on 4th March 2020.

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Photo of Tulip Siddiq Tulip Siddiq Labour, Hampstead and Kilburn

To ask the Chancellor of the Exchequer, what recent assessment his Department has made of the correlation between the operation of freeports and (a) tax evasion and (b) money laundering.

Photo of Steve Barclay Steve Barclay The Chief Secretary to the Treasury

The UK plays a key role in tackling cross-border illegal activity and this is not going to change. UK Freeports will be innovative hubs that boost trade, attract inward investment and drive productive activity across the UK. HMRC have been closely involved in their design to ensure that everyone pays their fair share of tax towards funding our vital public services, while boosting growth in all regions of the UK.

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