§ 27. Mr. SkinnerTo ask the Attorney-General what new initiatives he is planning to take in relation to the work of the Serious Fraud Office.
§ The Attorney-General (Sir Nicholas Lyell)Under its new director, it remains the objective of the Serious Fraud Office to increase the efficiency and effectiveness of its work in investigating and prosecuting serious and complex fraud.
§ Mr. SkinnerWhen will the Attorney-General or the fraud squad do something about investigating Olympia and York, the Canary wharf developers? Is it not a scandal that that company owes !12 billion and is in hock to the banks, yet the banks—just as with Maxwell—are lending it money to keep it afloat? Is it not despicable that the Government, through the President of the Board of Trade and Government Departments, are bailing out that company? Is it not time that instead of handing a lifeline to that squalid venture, the Government sent in the fraud squad to investigate?
§ The Attorney-GeneralBefore people throw fraud allegations around lightly, they should have some evidence. Not every business that goes into liquidation or has financial problems is fraudulent. If the hon. Gentleman has any evidence, he should take it to the police.
§ Mr. BerminghamDoes the Attorney-General agree that there is a serious risk in fraud cases because the large ones go to the Serious Fraud Office and the smaller ones to local police fraud divisions, leaving a growing gap of cases involving sums of between £1 million and £3 million that no one seems keen to investigate or that no one has the resources to investigate? Should not adequate funds be made available to prosecuting authorities to investigate all cases of fraud?
§ The Attorney-GeneralIn addition to the 60 or so cases on the caseload of the Serious Fraud Office, a substantial number are being professionally and skilfully investigated by the fraud investigation group of the Crown prosecution service, and I draw the hon. Gentleman's attention to them.