Dick Olver, chairman of BAE Systems, will on Wednesday call for a review of the corruption cases against the group in what will be viewed as a last-ditch attempt to draw a line under claims that have dogged the UK’s largest defence contractor for decades.

Mr Olver will call on Richard Alderman, head of the Serious Fraud Office, and independent QCs to review the case for corruption claims in relation to the £43bn al-Yamamah arms deal with Saudi Arabia. The review should include cases in the other four countries where BAE faces investigations by the Serious Fraud Office and come to a conclusion whether there is a case to answer or not.