Serious Fraud Office saved from axe

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The Serious Fraud Office has been saved.

Prime Minister John Key told Parliament today it would not be abolished under a National government.

The previous government intended disbanding it and merging it with a new organised crime unit under the authority of the police, and a bill was in Parliament to do that.

The bill had to be put on hold when the SFO started its inquiry into donations to New Zealand First, and wasn't passed before the election.

"They'll be staying, and they'll be investigating some very interesting crimes, I would suggest, over the next few years," Mr Key said.

"Those who have broken the law, maybe those who have defrauded New Zealanders out of their retirement savings with all sorts of dodgy schemes, are going to know that the Serious Fraud Office will be here, with all its powers, to investigate them."

- NZPA