Serious Fraud Office

Debate between Mark Field and Albert Owen

Tuesday 7th February 2017 Westminster Hall

[Mark Field]

I understand the point about moving away from a criminal more to a civil standard of proof. This is a back-of-the-envelope-type suggestion. I am just putting a few broader proposals forward because, as has been referred to elsewhere, the power of deferred prosecution is very much a positive step in the right direction. As Members know, deferred prosecutions will enable proceedings in a criminal case to be delayed for a given period, subject to certain conditions being met by the company in question. At the end of the set period, if all agreed conditions have been met—often, that includes paying a substantial fine along the lines of the one that Rolls-Royce had to pay—charges can be dismissed and the judgment of conviction can be entered. It is a more pragmatic prosecution-related process.

I could go on and on, but I know that at least one other Member wishes to speak and that we all want to hear from the Front-Bench spokespersons. Let me just say this, if I may: the incentives provided by healthy competition and the deterrent of stiff punishments should have formed the backbone to the new era of banking and business in the aftermath of 2008. The past two Administrations have missed the boat in restoring both the confidence of market professionals and the trust of the British public in our financial institutions. I very much hope that in addition to addressing the important issues raised in the thoughtful contributions made by the right hon. Member for East Ham and my right hon. and learned Friend the Member for Harborough, the Government will use this opportunity to take a fresh, broader look when it comes to the overall workings of the SFO, as well as its funding, and ensure that it has its rightful place within the enforcement sphere in the years to come.

[Albert Owen (in the Chair)]

I am grateful to the right hon. Gentleman. I remind Members that I will call the Front-Bench spokespersons at half-past 10. In calling you, Mr Shannon, I point out that it did not escape my notice that you were six minutes late joining us. That is discourteous to the Member leading the debate and to all other Members present. A less generous Chair would have gone straight to the Front-Bench speeches and ignored you. You are running out of excuses, but I ask you to be brief and finish at half-past.

Science and Research

Debate between Mark Field and Albert Owen

Wednesday 24th June 2015 Westminster Hall

[Mark Field]

Without pre-empting the battles that the Minister will no doubt have with the Home Office, the immigration question is close to our hearts. He will appreciate fully that if the brightest and best from across the world come here, they will go back to their countries as ambassadors for this country for the rest of their lives and often build up businesses with links to us. We lose that at our peril: such links will then go to Canada, the USA and Australia, and the point has been made that, without significant numbers of overseas students, leading postgraduate courses will simply close down, which will be to the detriment of our own indigenous population.

[Albert Owen (in the Chair)]

Minister, you have one minute.