Oral Answers to Questions

Nick Smith Excerpts

Tuesday 20th March 2012 Commons Chamber

The Attorney-General was asked—

[Nick Smith (Blaenau Gwent) (Lab)]

1. What recent assessment he has made of the performance of the Serious Fraud Office.

[The Attorney-General (Mr Dominic Grieve)]

There has not been a recent independent assessment of the performance of the Serious Fraud Office, and for that reason, in consultation with the SFO director, I have requested Her Majesty’s Crown Prosecution Service inspectorate to carry out an inspection. It is intended that the inspection should assist the incoming director, and is timed accordingly. Furthermore, the SFO will continue to publish its annual performance information in its annual report.

[Nick Smith]

A KPMG report suggests that fraud is on the rise and estimates that more than £1 billion of Government money was stolen by fraudsters in 2011 alone. This financial year the SFO’s budget was a little over £30 million. Does the Attorney-General agree that that smacks of a false economy?

[The Attorney-General]

I have absolutely no doubt that if there is more money to spend, one may get greater results—but it is also worth pointing out that since the 2008 de Grazia review the SFO has been transformed. Investigation times have been significantly reduced, conviction rates remain high, and very substantial sums of money are being recovered from the proceeds of crime. From that point of view, the SFO is well fulfilling the mandate it has been set. However, I take the hon. Gentleman’s point: it is always possible to argue that priorities in government should be substantially altered, but if that is to be done, far more funds will have to be found.