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Assets Recovery Agency

Volume 459: debated on Wednesday 25 April 2007

10. If he will make a statement on the performance of the Assets Recovery Agency in Northern Ireland. (132692)

Will the Minister guarantee that when the merger is complete, tax fraud will remain within the agency’s remit rather than being handed over to the Treasury here in London? The agency will be much better able to deal with it, given the special circumstances in Northern Ireland.

When the Assets Recovery Agency and the Serious Organised Crime Agency are merged, both will be the responsibility of the Home Office. However, the right hon. Gentleman has drawn attention to an important aspect of the system, namely the incentivisation scheme whereby any agency that is able to recover assets can keep half of them when they are turned into cash. My right hon. Friend the Home Secretary is examining the scheme to establish whether there are ways in which it can be further enhanced.