The former Archbishop of Canterbury Lord Williams has welcomed the
Government's decision to create a new public register detailing the
owners of around 2.5 million companies.
The announcement was made by the Government at the London Meeting of the Open Government Partnership on Thursday.
Lord Williams called it a "brave decision", while Christian Aid said
it was a breakthrough in the global fight against tax evasion,
corruption and financial crime.
The register will help to tackle secretive companies that exist only
on paper and are used to launder money and dodge taxes that are often
intended for developing countries.
"The challenge now will be to ensure that this policy is delivered
effectively and that the poorest people in our world are among those who
feel the benefits," said Lord Williams, chairman of Christian Aid.
"Today's announcement of a public register of who really owns of UK
companies shows that the Government has genuinely listened to the
arguments about the powerful benefits of transparency."
He continued: "Financial secrecy is a form of privacy that works
against human dignity. Getting this information about who owns what out
into the open could strike a powerful blow against corrupt and
destructive business practices: it is one more signpost on the path to
an economics of the common good."
Christian Aid said the public register would set a "brilliant"
example to other countries around the world and encourage them to set up
registers of their own.
Christine Allen, Director of Policy and Public Affairs at Christian
Aid, said: "The UK Government should now build on its excellent decision
to create a public register by leading efforts to do the same thing at
European Union level.
"In addition, it should ensure that the UK's Crown Dependencies and
Overseas Territories set up equivalent public registers covering
companies registered with them."