Commons Sense

House of Commons · Written Ministerial Statement

UK Support to Ukraine

22 October 2024 · Treasury

Proposed by Rachel Reeves Lab Leeds West and Pudsey

Ukraine

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

View on Parliament.uk

At a glance

Key points

  • UK will contribute 2.26 billion to the G7 'Extraordinary Revenue Acceleration' Loans to Ukraine scheme
  • Primary legislation will be introduced to seek parliamentary spending authority
  • Funds are expected to begin disbursing within this financial year

Issue summary

The statement addresses the UK's commitment to support Ukraine financially through a G7 scheme.

Action requested

The UK will contribute £2.26 billion to the G7 'Extraordinary Revenue Acceleration' Loans to Ukraine scheme, providing budgetary support for military procurement and self-defence capacity. Primary legislation will be introduced to seek parliamentary spending authority, with funds expected to begin disbursing within this financial year.

Key facts

  • The UK is contributing £2.26bn ($3bn) to the G7 'Extraordinary Revenue Acceleration' (ERA) Loans to Ukraine scheme.
  • The ERA was announced on 14 June 2024.
  • The scheme will provide Ukraine with approximately $50bn of additional funding.
  • This contribution is in addition to £3bn per year of bilateral military support and UK Export Finance’s overall £3.5bn capacity for Ukraine since 2022.
  • Primary legislation will be introduced to seek parliamentary spending authority.
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