Seizure of Criminal Assets: PIU Report (Hansard, 19 June 2000)

§ The Lord Privy Seal (Baroness Jay of Paddington)

The Performance and Innovation Unit's reportRecovering the Proceeds of Crime was published on 14 June as agreed government policy. Copies have been placed in the Printed Paper Office and in the Library of the House. It is also available on the Cabinet Office website at www.cabinet-office.gov.uk/innovation.

The PIU report sets out the Government's new approach to tackling crime through its finances. In implementing the report, the Government are determined to show that crime will not pay in the UK. We aim to reduce crime and to increase confidence in the criminal justice system. The report sets out a plan of action covering the following areas:

a more strategic approach to asset recovery, including a dedicated National Confiscation Agency and greater cross-government co-operation;

more emphasis on financial investigation to help law enforcement uncover criminal assets as a routine part of their business;

a new legislative attack closing legal loopholes and calling all convicted offenders to account for their assets where they have clearly benefited from their crimes; and introducing civil forfeiture giving the courts power to recover unlawful gains currently beyond the reach of the law;

tightening the money laundering regime, simplifying and consolidating the money laundering laws;

taxing unlawful gains by using tax powers more effectively to target criminal wealth; and

setting a higher international standard, working with our partners overseas to drive up standards and close boltholes.

My right honourable friend the Home Secretary, in collaboration with my right honourable friend the Chief Secretary, will take forward implementation of the conclusions of the report.