HL Deb 02 June 2003 vol 648 cc119-20WA
Lord Morris of Manchester

asked Her Majesty's Government:

What information they have on the amounts and whereabouts of moneys reported to have been deposited in banks outside Iraq by or on behalf of Saddam Hussein and his family; and whether any action is open to them to facilitate the repatriation of these funds to the people of Iraq. [HL2840]

Lord McIntosh of Haringey:

The Chancellor of the Exchequer has made clear that the Government are committed to taking the necessary steps to ensure that the assets of Saddam Hussein and his associates are used for the benefit and welfare of the Iraqi people.

Working closely with coalition partners, a number of government departments and agencies continue to track reports of moneys deposited outside Iraq by or on behalf of Saddam Hussein and his family. If such assets were found, they would be frozen under UN sanctions legislation.

In contributing to the drafting of a new United Nations Security Council Resolution, the Government have ensured that the assets of the former regime will be placed in the Development Fund for Iraq.