House of Commons · Written Ministerial Statement
Reporting a contingent liability in relation to a Government underwrite to provide financial support to The Platinum Jubilee Pageant Limited
24 February 2022 · Department for Digital, Culture, Media and Sport
Proposed by Chris Philp Con Croydon South
Summarised by AI from the official record, so it can contain mistakes.
At a glance
Key points
- The Government has created a contingent liability for an underwrite to support The Platinum Jubilee Pageant Limited if the event is cancelled due to specific circumstances.
- The contingent liability is capped at 2.45 million and will expire on Monday 6 June 2022.
- A Departmental Minute has been laid down to provide notice of this contingent liability.
Issue summary
The statement addresses a contingent liability created by the Government for an underwrite to support The Platinum Jubilee Pageant Limited if the event is cancelled due to specific circumstances.
Action requested
The Government has laid down a Departmental Minute to provide notice of the contingent liability, which will cap the underwrite at £2.45 million and expire on Monday 6 June 2022. This is purely informational with no further action requested.
Key facts
- The Platinum Jubilee Pageant Limited is a company limited by guarantee.
- The Government underwrite is capped at £2.45 million.
- The underwrite will expire at midnight on Monday 6 June 2022.
- The likelihood of the underwrite being required is low.
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