Asked by: Kevin Hollinrake (Conservative - Thirsk and Malton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the potential effect on (a) City of London’s reputation and (b) inward investment of recent investigations undertaken by the Serious Fraud Office.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
The Serious Fraud Office continues to deliver on its mission to fight serious financial crime, deliver justice for victims, and protect the UK’s reputation as a safe place to do business.
Successes in 2021-22 so far include: securing a conviction in the GPT Special Project Management case; and entering into a £103m Deferred Prosecution Agreement with Amec Foster Wheeler Energy Limited.
The UK remains a leading destination for foreign investment; second in the world for inward Foreign Direct Investment stocks with $2.2 trillion, behind the USA and the Netherlands in 2020.