House of Commons · Written Ministerial Statement
Reporting Contingent Liabilities in relation to a Government Guarantee to back a borrowing facility for Historic Royal Palaces
19 January 2022 · Department for Digital, Culture, Media and Sport
Proposed by Nigel Huddleston Con Droitwich and Evesham
Summarised by AI from the official record, so it can contain mistakes.
At a glance
Key points
- The Government extends its guarantee for Historic Royal Palaces' borrowing facility up to 4 million until January 19, 2027.
- The guarantee aims to protect against economic downturns that may reduce admissions income.
- This extension follows the most recent renewal in September 2021 and the initial guarantee from 2002.
Issue summary
The statement discusses an extension to the period where the Government acts as a guarantor for Historic Royal Palaces' borrowing facility up to £4 million.
Action requested
The renewed guarantee, available until January 19, 2027, will provide protection against economic downturns affecting admissions income and has been in place since 2002 with the most recent renewal in September 2021.
Key facts
- The borrowing facility is up to £4 million.
- The renewed guarantee period runs until January 19, 2027.
- Historic Royal Palaces carries out functions under Section 21 of the Crown Lands Act 1851.
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Summary accuracy