§ Baroness David
asked Her Majesty's Government:
When they plan to publish the first annual report of the Assets Recovery Agency. [HL4154]
§ Baroness Scotland of Asthal
I am pleased to announce that the first annual report of the Assets Recovery Agency will he laid before Parliament on 8 September 2003.
The report is the first by the agency and covers the financial year 2002–03. The agency became operational on 24 February 2003, and the report covers the setting up of the agency and the first few weeks of its work. The next report will include an assessment of how the agency has carried out its first business plan, which was published on 9 July.
The agency is already making use of its powers, and has obtained several orders to freeze suspected criminal assets.
The establishment of the agency, with extensive powers to investigate and recover criminal assets, shows the Government's commitment to taking the profit out of crime.