Commons Sense

House of Commons · Written Ministerial Statement

Shipbuilding Credit Guarantee Scheme

24 May 2024 · Department for Business and Trade

Proposed by Alan Mak Con Havant

Business & Trade

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

View on Parliament.uk

At a glance

Key points

  • The Shipbuilding Credit Guarantee Scheme (SCGS) administrative requirements for the financial year 2024-25 are being addressed
  • A 90,000 Contingencies Fund Advance has been made to cover urgent SCGS expenditure pending parliamentary approval
  • This funding will support the SCGS's operations until further approval through a Main Estimate is granted

Issue summary

The statement addresses the Shipbuilding Credit Guarantee Scheme (SCGS) and its administrative requirements for the financial year 2024-25.

Action requested

The minister is notifying Parliament of a £90,000 Contingencies Fund Advance made over recess to cover urgent expenditure pending parliamentary approval for additional resources. This funding will support the SCGS's operations until further approval is granted through a Main Estimate.

Key facts

  • The Shipbuilding Credit Guarantee Scheme (SCGS) was launched in July 2023.
  • UKEF manages enquiries and applications under the SCGS.
  • A Contingencies Fund Advance of £90,000 has been made to cover urgent expenditure until parliamentary approval is granted.
  • Parliamentary approval for an additional resource of £90,000 will be sought in a Main Estimate.
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