Political

Lib Dem peers move to block laundering of dirty money from Russia

The Independent reports:

Boris Johnson’s has been urged to crackdown on a loophole which could allow post-Brexit freeports being used to launder dirty money, as peers move to stop illicit finance from Russia and elsewhere.

Eight English ports are to be granted tax breaks by the government in a bid to generate more trade after the UK’s exit from the EU.

The Liberal Democrats are attempting to amend the government’s tax bill to stop freeports extending the “London laundromat” across the country.

Tabled by Lib Dem peer Baroness Susan Kramer, it would mean freeports could only qualify for tax relief if they establish a public register of business owners operating there…

Baroness Kramer added: “The sunlight of transparency will act as a deterrent to Russian oligarchs and others who want to flood their dirty money into this country.”

UPDATE:

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