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Shipbuilding Credit Guarantee Scheme

24 May 2024

Proposing MP
Alan Mak Con
Havant
Type
Written Ministerial Statement
Department
Department for Business and Trade
View on Parliament.uk -->

At a Glance

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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