§ Mr. Sedgemoreasked the Chancellor of the Exchequer if he will set up an inquiry (a) into the operation of the gold bullion market and (b) to seek to ascertain if any staff, directors or shareholders of Johnson Matthey plc or Johnson Matthey Bankers had any knowledge of or gained benefits directly or indirectly by virtue of gold smuggling and bullion frauds since 1980; and if he will make a statement.
§ Mr. BrookeNo, since the Government have full confidence that the existing investigations into bullion-related fraud will be effective. The operation of the bullion and gold scrap market was considered in detail in the recent Customs review of the special VAT accounting scheme for gold dealers. As a result of this review, a number of measures to tighten up the scheme were announced on 4 March.