11 Jul 2008

National wants Serious Fraud Office retained

9:58 pm on 11 July 2008

National plans to retain the Serious Fraud Office if moves to scrap the agency are not completed before the election.

Legislation to abolish the office is currently being considered by Parliament's Law and Order Select Committee.

The Government wants to set up a new organised crime fighting agency which will be run by the police and will absorb the Serious Fraud Office.

National's justice spokesperson, Simon Power, says now is not the time to scrap the SFO, which recently announced three investigations into failed finance companies.

Acting Police Minister, Phil Goff, says the new agency will be twice its size and will retain its expertise.

Mr Goff expects the legislation to pass before the election, and says if National seriously opposed abolishing the SFO, it would promise to repeal the law if it forms a government.