Retail Trade: Unfair Practices
The question
To ask the Secretary of State for Business, Innovation, Science and Trade, what steps his Department is taking to support legitimate independent shopkeepers who face unfair competition from cash-only premises operating under investigation for illicit trade.
Answered by Department for Business, Innovation, Science and Trade
Illicit trade, money laundering and related crime committed using high street property undermines legitimate businesses, discourages investment, and contributes to the decline of high streets. BIST is supporting the new High Streets Organised Crime Unit, based in the Home Office, to strengthen our cross-government response to money laundering and other forms of organised criminality on our high streets. This will align with the forthcoming High Streets Strategy to ensure a holistic approach to barriers to vibrancy on the high street.
The Government has already announced £30 million to crack down on cash intensive businesses. This includes £6 million to bolster Trading Standards response and £20 million towards enhanced law enforcement, including a new multi-agency coordinated cell based in the National Crime Agency.
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