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| Version 0 | Version 1 |
|---|---|
| Criticism at ditched Saudi probe | Criticism at ditched Saudi probe |
| (10 minutes later) | |
| Opposition politicians have attacked the Serious Fraud Office's (SFO) decision to drop a corruption probe into a defence deal with Saudi Arabia. | Opposition politicians have attacked the Serious Fraud Office's (SFO) decision to drop a corruption probe into a defence deal with Saudi Arabia. |
| Both the SFO and the government said national security had dictated the decision but the Liberal Democrats said cash had been put before principle. | Both the SFO and the government said national security had dictated the decision but the Liberal Democrats said cash had been put before principle. |
| The SFO had been studying a 1980s deal between BAE Systems and the Saudis. | The SFO had been studying a 1980s deal between BAE Systems and the Saudis. |
| Reports said the Saudis had threatened to pull out of a new £6bn deal with BAE unless the probe was brought to an end. | Reports said the Saudis had threatened to pull out of a new £6bn deal with BAE unless the probe was brought to an end. |
| Lib Dem MP Norman Lamb has called the SFO's decision "outrageous and disgraceful". | Lib Dem MP Norman Lamb has called the SFO's decision "outrageous and disgraceful". |
| 'Public interest' | 'Public interest' |
| The SFO had been studying BAE System's Al Yamamah arms deal with Saudi Arabia, which dates back to the 1980s. | The SFO had been studying BAE System's Al Yamamah arms deal with Saudi Arabia, which dates back to the 1980s. |
| BAE was accused of setting up a slush fund to sweeten the deal, something the firm had strongly denied. | BAE was accused of setting up a slush fund to sweeten the deal, something the firm had strongly denied. |
| But on Thursday the Attorney General, Lord Goldsmith, announced the SFO was dropping the probe, and said he thought that a prosecution "could not be brought". | But on Thursday the Attorney General, Lord Goldsmith, announced the SFO was dropping the probe, and said he thought that a prosecution "could not be brought". |
| How on earth can we lecture the developing world on good governance when we interfere with and block a criminal investigation in this way Lib Dem MP Norman Lamb Check BAE's share price | How on earth can we lecture the developing world on good governance when we interfere with and block a criminal investigation in this way Lib Dem MP Norman Lamb Check BAE's share price |
| He added that the decision had been made in the wider public interest, which had to be balanced against the rule of law. | He added that the decision had been made in the wider public interest, which had to be balanced against the rule of law. |
| Lord Goldsmith also insisted that no weight has been given to commercial interests or to the UK's national economic interest. | Lord Goldsmith also insisted that no weight has been given to commercial interests or to the UK's national economic interest. |
| The SFO's decision to end the investigation comes after repeated suggestions that the Saudis were angered by the probe, and were threatening to pull out of current plans to buy 72 Eurofighter planes from BAE for £6bn. | The SFO's decision to end the investigation comes after repeated suggestions that the Saudis were angered by the probe, and were threatening to pull out of current plans to buy 72 Eurofighter planes from BAE for £6bn. |
| 'Christmas present' | |
| Mr Lamb added that he thought the decision to end the investigation "completely undermines the UK's reputation on good governance". | Mr Lamb added that he thought the decision to end the investigation "completely undermines the UK's reputation on good governance". |
| "How on earth can we lecture the developing world on good governance," he said, "when we interfere with and block a criminal investigation in this way?" | "How on earth can we lecture the developing world on good governance," he said, "when we interfere with and block a criminal investigation in this way?" |
| Shares in BAE Systems were up 6% in early Friday trading. | Shares in BAE Systems were up 6% in early Friday trading. |
| While the Lib Dems criticised the SFO's decision, it was welcomed by Labour MP Lyndsay Hoyle, whose Lancashire constituency is home to BAE's main Eurofighter facility. | |
| He said many of his constituents were celebrating "an early Christmas present". | |
| BAE directly employs 5,000 people on the Eurofighter project. |