House of Commons
Parliament

Labour MP Dame Margaret Hodge praises former Conservative Prime Minister David Cameron for taking a lead on anti-corruption.

However, she criticises this government bill's "failure to take action on the overseas territories and Crown dependencies".

She describes this as a "grave error".

Dame Margaret asks if "we really have to wait for another leak" to address the role of Crown dependencies, predicting that there will be more revelations similar to the leak of confidential documents from Panamanian law firm Mossack Fonseca.

House of Lords
Parliament

Transport Minister Lord Ahmad of Wimbledon is currently repeating a statement made earlier in the Commons by the Transport Secretary Chris Grayling, on the government's support for the expansion of Heathrow Airport.

Select Committee
Parliament

John Bruton says people in the Republic of Ireland are feeling a "great sense of loss" after the UK voted to leave the European Union, having joined the EU at the same time as the UK.

Bertie Ahern continues the theme of the EU building understanding between the UK and Republic of Ireland, recalling a visit from a British treasury minister, who brought with him "about 200 security". He says that eventually there was almost no security at all.

House of Lords
Parliament

Image source, PA

Former Irish taoisigh Bertie Ahern and John Bruton are due to attend an oral evidence session with the House of Lords' EU Select Committee. 

The committee is conducting an inquiry into the impact of Brexit on British-Irish relations, focusing in particular on the border between Northern Ireland and the Republic of Ireland, trade between the Republic and the UK and the common travel area covering the two countries. 

During the build up to the Heathrow third runway decision, BBC News asked some planespotters to take a blind test to identify planes, to see how distinctive noise can be.  

House of Commons
Parliament

SNP MP Richard Arkless says measures on the proceeds of crime have worked effectively against drug money and bank robbery in the past.

"Banks must consider the source of funds and whether they are, indeed, legitimate," he says.

Now, he tells MPs, there is "the threat of grand corruption" which can involve "politically exposed persons".

This means "new and tougher legislation is required" which, he says, the SNP supports.

He says the SNP Scottish government is "deadly serious about tackling tax avoidance in Scotland" and he doubts that this UK government bill goes far enough. 

Scotland has 15 airports - six main centres and a further nine dotted around the Highlands. All but one is in favour of a third runway at Heathrow Airport.

The decision to build a third runway at Heathrow Airport in London is welcomed by the Scottish government.

Image source, PA

The assets of nationalised bank Bradford and Bingley are to be sold in order to recoup nearly £16 billion for taxpayers. 

Chancellor Philip Hammond told the Commons on Tuesday that the sale process was now under way. 

Mr Hammond said: "As part of our plan to recover all of the cash British taxpayers injected into the banking sector during the financial crisis, we have begun the process of selling our Bradford and Bingley assets.

"This is one of my top priorities as Chancellor and that is why I approved [government-owned company] UKAR to begin this process. I am determined to do everything I can to ensure that taxpayers get their money back."

The sales are intended to pay off the £15.65 billion the bank owes the Financial Services Compensation Scheme.

It was nationalised in 2008 at the height of the financial crisis, along with Northern Rock. Lloyds Banking Group and the Royal Bank of Scotland were also later taken on by the UK government. 

Andy McDonald, shadow transport secretary said: "Labour has consistently been in favour of building an additional runway in the south east of England.

"But this support has always been conditional on four tests being met: on capacity, climate change, noise and air quality and the wider national benefits. Today’s announcement, heralding another consultation, does not yet do that."

Some of the UK's largest unions have expressed their support for a third runway at Heathrow Airport. 

Unite's London and Eastern regional secretary Peter Kavanagh said: “The government’s approval for a third runway at Heathrow is welcome news, but it needs to fastforward the final decision and construction of the project.

“With every day that passes, rival airports like Frankfurt and Charles de Gaulle in Paris rub their hands at the prospect of gaining a competitive advantage."

Mick Rix, national officer for transport and distribution at union GMB said: "The airport needs expansion if it is to retain its world class status as a global hub airport. 

"Heathrow expansion is not reliant on public money. It will be built to stringent environmental standards. Heathrow must now mean Heathrow."

Helen Catt
Political editor, BBC South East

I'm in Westminster, where the announcement was made this morning.

Speaking to the London Evening Standard, external, after this morning's cabinet meeting, Prime Minister Theresa May outlined the economic benefits a bigger Heathrow might bring.

The Prime Minister said: "Airport expansion is vital for the economic future of the whole of the UK and today also provides certainty to Londoners. 

"Businesses will know that we are building the infrastructure they need to access global markets. Ordinary, working people will know that my Government backs jobs and growth.

"This decision demonstrates that as we leave the EU we can make a success of Brexit and Britain can be that open, global, successful country we all want it to be."

House of Commons
Parliament

Shadow Home Secretary Diane Abbott rises to respond to the opening remarks by saying that some of the most expensive houses in London are bought for the sake of laundering money.

Ms Abbott says that in some of London's most expensive neighbourhoods, "you will see house after house that is dark every night".  

The shadow home secretary says that Labour welcomes the aims of the bill in principle. 

House of Lords
Parliament

Lord Ashton of Hyde is speaking to introduce the National Citizen Service Bill at second reading.

The National Citizen Service, external is a voluntary programme for 15 to 17 year olds and is supposed to encourage personal and social development. Volunteers engage in outdoor activities and social action in their communities during school holidays.

Lord Ashton of Hyde says that the "transformative" scheme is "accessible to everyone" and many young people say it has "changed their lives".

The bill creates a statutory framework for the NCS, and creates a duty on all schools and local authorities to promote NCS.

House of Commons
Parliament

Conservative MP Robert Jenrick says that all MPs will support the aims of the bill but asks for reassurances that law enforcement agencies will have the resources necessary to enforce the new powers. 

Minister Wallace responds that the police forces he has visited have told him that the biggest barrier for them to tackle money laundering and organised crime is the ability to "find the cash, see the cash, and seize the cash".

Mr Wallace says that he was "absolutely shocked" when he became a Home Office minister with the "weight and strength of organised crime across the UK".

"It takes your breath away", he says. 

House of Commons
Parliament

The Criminal Finances Bill will expand the government's powers to tackle money laundering and corruption.

The Bill includes measures to recover the proceeds of crime and to counter terrorist financing, and aims to ensure that firms are properly held to account for criminal activity that takes place within them.

"Unexplained wealth orders" will require those suspected of serious criminality to explain the origin of their wealth.

The Bill establishes new seizure and forfeiture powers of money stored in bank accounts.

Seizure and forfeiture powers will be used where the funds are either the proceeds of crime for unlawful conduct. 

House of Commons
Parliament

The DUP's Gavin Robinson and Labour's Margaret Hodge have both asked the minister why the provisions of the bill do not apply to British overseas territories or Crown dependencies.

Mr Wallace responds that the bill does give new powers "extra-territorial extent" that will allow enforcement of tax evasion and fraud charges committed abroad. 

Kathryn Langley
BBC Live reporter

There's a mix of views from local people about today's news.