I will take a few moments to respond to some of the points raised in the debate on this group, starting with those made by the hon. Member for Ealing North (James Murray). I am very grateful for his welcome of the economic crime levy. He asked for a review, but, as I mentioned, we have already committed to a review. A review will take place by the end of 2027.
5.15 pm
The hon. Gentleman suggested that we have abandoned the commitment to bring in a register of beneficial ownership. I wholly refute that. We have not abandoned it. As he rightly said, the Exchequer Secretary to the Treasury, my hon. Friend the Member for Faversham
and Mid Kent (Helen Whately) wrote to him yesterday setting out the position, which is that a draft Bill underwent pre-legislative scrutiny in 2019. Since last updating Parliament in July 2020, the Government have published their response to the consultation on reforming Companies House. Three further consultations were published in December 2020, seeking further views on the finer details of the reform package. Not only that, in the letter my hon. Friend, the Exchequer Secretary pointed out that under the UK’s leadership all G7 countries have now committed to strengthening and implementing their beneficial ownership registers.