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| Version 3 | Version 4 |
|---|---|
| David Cameron: UK property no safe haven for 'dirty money' | David Cameron: UK property no safe haven for 'dirty money' |
| (34 minutes later) | |
| Foreigners must be stopped from buying UK homes with "plundered or laundered cash" as part of a "global effort" to defeat corruption, David Cameron will say in a speech later. | Foreigners must be stopped from buying UK homes with "plundered or laundered cash" as part of a "global effort" to defeat corruption, David Cameron will say in a speech later. |
| Mr Cameron will vow to expose the use of "anonymous shell companies" to buy luxury UK properties - often in London. | Mr Cameron will vow to expose the use of "anonymous shell companies" to buy luxury UK properties - often in London. |
| Speaking in Singapore, he will say the UK must not become "a safe haven for corrupt money from around the world". | Speaking in Singapore, he will say the UK must not become "a safe haven for corrupt money from around the world". |
| He will say the international community must tackle the "cancer of corruption". | He will say the international community must tackle the "cancer of corruption". |
| Mr Cameron is on a four-day tour of South East Asia. On Monday, he announced the UK and Indonesia had agreed measures to counter the "shared enemy" of Islamic State (IS) extremism. | Mr Cameron is on a four-day tour of South East Asia. On Monday, he announced the UK and Indonesia had agreed measures to counter the "shared enemy" of Islamic State (IS) extremism. |
| Later in the trip he will travel to Malaysia and Vietnam. | Later in the trip he will travel to Malaysia and Vietnam. |
| 'Global effort' | 'Global effort' |
| He has been accompanied by 31 British business leaders in an attempt to drum up trade with the UK and has also discussed the fight against terrorism with his counterparts. | He has been accompanied by 31 British business leaders in an attempt to drum up trade with the UK and has also discussed the fight against terrorism with his counterparts. |
| Describing corruption as "the enemy of progress", he will call for a "global effort" to tackle it, saying the world has "looked the other way for too long". | Describing corruption as "the enemy of progress", he will call for a "global effort" to tackle it, saying the world has "looked the other way for too long". |
| A 2014 report by anti-poverty organisation One said an estimated $1tn (£600bn) a year was being taken out of poor countries because of corruption, warning of the use of phantom firms and money laundering. | A 2014 report by anti-poverty organisation One said an estimated $1tn (£600bn) a year was being taken out of poor countries because of corruption, warning of the use of phantom firms and money laundering. |
| And last week the National Crime Agency said foreign criminals were pushing up house prices in the UK by laundering billions of pounds through the purchase of expensive properties. | And last week the National Crime Agency said foreign criminals were pushing up house prices in the UK by laundering billions of pounds through the purchase of expensive properties. |
| 'Dirty money' | 'Dirty money' |
| In his speech, Mr Cameron will say properties in the UK, particularly in London, "are being bought by people overseas through anonymous shell companies, some with plundered or laundered cash". | In his speech, Mr Cameron will say properties in the UK, particularly in London, "are being bought by people overseas through anonymous shell companies, some with plundered or laundered cash". |
| Shell companies are non-trading companies that serve a particular purpose for their owners. | Shell companies are non-trading companies that serve a particular purpose for their owners. |
| More than 100,000 UK property titles are registered to overseas companies, with more than 36,000 properties in London owned by offshore firms. | More than 100,000 UK property titles are registered to overseas companies, with more than 36,000 properties in London owned by offshore firms. |
| About £122bn of property in England and Wales is owned by offshore companies. | About £122bn of property in England and Wales is owned by offshore companies. |
| The government is to publish Land Registry data later this year, setting out which foreign companies own land and property in England and Wales. | The government is to publish Land Registry data later this year, setting out which foreign companies own land and property in England and Wales. |
| 'Veil of secrecy' | 'Veil of secrecy' |
| It will also consider forcing a foreign company bidding for a government contract to "publicly state who really owns it". | It will also consider forcing a foreign company bidding for a government contract to "publicly state who really owns it". |
| "There is no place for dirty money in Britain. Indeed, there should no place for dirty money anywhere," Mr Cameron will add. | "There is no place for dirty money in Britain. Indeed, there should no place for dirty money anywhere," Mr Cameron will add. |
| Welcoming the pledge, Laura Taylor, head of advocacy at Christian Aid, said it was "another step forward in the battle for greater transparency worldwide". | Welcoming the pledge, Laura Taylor, head of advocacy at Christian Aid, said it was "another step forward in the battle for greater transparency worldwide". |
| "Countering corruption is of fundamental importance in the fight against global poverty because of its impact on developing countries," she added. | "Countering corruption is of fundamental importance in the fight against global poverty because of its impact on developing countries," she added. |
| Diane Sheard, UK director of One, said: "Lifting this veil of secrecy will help developing countries to identify and recover these funds, which should be spent on essentials like health and education. | |
| "We hope that making information public about foreign companies that own property in the UK will deter money-launderers from doing business here." | "We hope that making information public about foreign companies that own property in the UK will deter money-launderers from doing business here." |
| And Robert Palmer, head of the money-laundering campaign at the charity Global Witness, said: "London is a very attractive destination for very wealthy people, including corrupt officials who have looted their state coffers." | |
| He added: "What the Prime Minister has announced today is a really good step forward." |