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Serious Fraud Office in plea for £21m in extra funding


The Serious Fraud Office has requested an extra £21.1m in funding from parliament, with £15.5m sought urgently.

The demand was revealed in a statement to parliament from Solicitor General Robert Buckland, and comes six months after the SFO requested a further £10m from MPs.

The SFO operates on an annual budget of around £33m, but is able to request extra funds from parliament.

Buckland said the cost would cover “significant investigations and the settlement of material liabilities”.

However, Labour has questioned the increase, questioning whether the funding method allows Chancellor George Osborne undue influence in prosecutions pursued by the fraud watchdog.

Shadow attorney-general Catherine McKinnell told the FT: “This is the third year running that the SFO has had to go cap in hand to the Treasury for contingency funding equivalent to over half its budget.

“This sticking-plaster approach is neither sustainable nor transparent and it simply cannot be right that George Osborne [the chancellor] gets to decide which major cases should be investigated.”



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Case study: administration — managing group life schemes

Our client leads the global market in high-tech electronics manufacturing and digital media. The trustees of the company’s final salary pension scheme insure death-in-service lump sum and dependants’ pension death benefits for active employees, as well as dependants’ pension benefits for deferred members (those who have left service).


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There is one comment at the moment, we would love to hear your opinion too.

  1. How do we know the SFO have actually requested this money? I think it might be a scam. The best thing to do here would be refer it to the SFO to investigate…… hang on!

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