Skip to main content

Sequestration of Assets

Volume 461: debated on Thursday 21 June 2007

To ask the Chancellor of the Exchequer what estimate he has made of the total value of assets the Asset Freezing Unit is likely to freeze in each of the first three years of its operation on an annual budget. (144568)

Decisions by the Treasury to freeze the assets of suspected terrorists are at all times taken in response to advice from law enforcement and security agencies. It is not possible to estimate the value of assets likely to be frozen in a given year.

To ask the Chancellor of the Exchequer when the Asset Freezing Unit will become operational; how many full time equivalent staff members it will employ; what its annual budget will be; and what the set up costs will be. (144569)

The Treasury intends to establish a dedicated Asset Freezing Unit by the end of the summer. The unit will be funded from within the Treasury’s departmental expenditure limit.