Member

New clause 155 would require the Government to assess the options for creating an economic crime fighting fund. It would be a pooled fund financed by a share of the assets already recovered through enforcement—confiscations, fines and deferred prosecution agreements. It would not be new money; that money is recovered by our enforcement agencies, but currently it is returned to the Treasury and often left unspent due to outdated annularity rules. In 2022, for instance, the NCA had to return £15 million of recovered criminal assets because it could not spend the money fast enough. That is inefficient and perverse. Such a fund would create a virtuous cycle, with more enforcement, more recovery and greater deterrence. The SFO returns £3 for every £1 invested, which is smart economics and a compelling argument for long-term, sustainable resourcing.