BRITAIN will support tough legislation for energy, mining and forestry companies to declare payments made to governments for extracting natural resources – strengthening prospects Europe will adopt rules at least as rigorous as those in the United States.
Deputy Prime Minister Nick Clegg said yesterday the coalition supports strict new rules as a way to combat corruption in resource-rich countries plagued by poverty. A day earlier France also signalled it favours tough rules.
“Shining a light on where this money is actually going will help people hold their governments to account over how this money is actually spent,” Clegg said after meeting on the issue with Irish pop star Bono.
EU leaders are due to take up the issue next month.
City A.M. Reporter