HL Deb 03 May 1988 vol 496 c375

2.54 p.m.

Lord Bruce of Donington asked Her Majesty's Government:

Whether, in the light of their reply to the Question from Lord Bruce of Donington of 2nd March 1987 (H.L. Deb. col. 438), they have any progress to report concerning the outcome of the inquiries then being pursued into the activities of PCW Underwriting Agencies Ltd., Peter Cameron-Webb, Peter Dixon, Minet Holdings and WMD Underwriting Agencies Ltd.

The Lord Chancellor

My Lords, the PCW case has recently been taken over by the Serious Fraud Office. Since March 1987 substantial progress has been made in the police investigation, and in particular Swiss witnesses have travelled to London and made statements. Regrettably, however, notwithstanding the personal intervention of my right honourable and learned friend the Attorney-General at a meeting with the Swiss head of the Federal Justice and Police Department, it is still proving very difficult to obtain important documents from Switzerland. Strenuous efforts continue to be made.

Lord Bruce of Donington

My Lords, I am grateful for that information from the noble and learned Lord. Will he give the House an assurance that there are now sufficient funds to enable any prosecution that may arise as a result of the investigations still taking place to proceed, bearing in mind the remarks of his predecessor on the Woolsack that the number of counsel potentially capable of being instructed by the defendants might be in excess of the resources available to the Crown Prosecution Service and Her Majesty's Government?

The Lord Chancellor

My Lords, my right honourable and learned friend the Attorney-General, who has responsibility for the matter, is satisfied that adequate legal, accountancy and police expertise are available to the Serious Fraud Office for the conduct of the case.

Lord Mishcon

My Lords, does the noble and learned Lord not regard it as highly dangerous that announcements should be made that defendants can afford better counsel than the prosecution? Is not that a highly dangerous statement?

The Lord Chancellor

My Lords, I am certainly not conscious of having made any such statement. I can see that such statements might in some circumstances carry a certain degree of risk.