Commons Sense

House of Commons · Written Ministerial Statement

Contingencies Fund advance

17 December 2020 · Treasury

Proposed by John Glen Con Salisbury

Economy

Summarised by AI from the official record, so it can contain mistakes.

View on Parliament.uk

At a glance

Key points

  • The Contingencies Fund is to provide a repayable cash advance of 40,500,000 to National Savings and Investments.
  • The funding aims to address operational resilience and Covid-19 related issues.
  • Parliamentary approval is required for the Supplementary Estimate to formalize the additional resources.

Issue summary

The statement addresses additional funding required by National Savings and Investments to address Covid-19 issues and operational resilience.

Action requested

Parliamentary approval is being sought for an additional £40,500,000 in resources via a Supplementary Estimate. Pending this approval, urgent expenditure will be met through repayable cash advances from the Contingencies Fund.

Key facts

  • Additional Resource DEL funding of £40,500,000 for National Savings and Investments.
  • Parliamentary approval to be sought for additional resources via a Supplementary Estimate.
  • Urgent expenditure estimated at £40,500,000 will be met by repayable cash advances from the Contingencies Fund.
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