Infrastructure Bill [HL]

My Lords, Amendment 95 will give HMRC a new function, allowing it to participate in the Extractive Industries Transparency Initiative, which I will now refer to as “EITI”. On 22 May 2013, the Prime Minister announced that the UK will sign up to EITI. This was a key announcement under the UK’s G8 presidency. EITI provides an assurance that companies will publish what they pay for extracting natural resources and that Governments will disclose the money that they receive from this. By joining EITI and encouraging other countries to join the UK will play its part to improve the way revenues from oil, gas and minerals are managed and to make sure that people across the world share in the economic benefits of the natural resources of the countries in which they live. The amendment will ensure that HMRC will be able to participate in this important initiative and is the minimum legislation required to meet the UK’s public commitment to EITI. I beg to move.