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Contingencies Fund Advance

03 September 2020

Proposing MP
Jesse Norman Con
Hereford and South Herefordshire
Type
Written Ministerial Statement
Department
Treasury
View on Parliament.uk -->

At a Glance

Issue Summary

The statement addresses the need for additional resources for HM Revenue and Customs due to the government's response to the Covid-19 pandemic in 2020-21.

Action Requested

HMRC will seek parliamentary approval for supplementary estimates of £15 billion (including a previous request of £900 million) to cover urgent expenditure, with repayable cash advances from the Contingencies Fund pending that approval. Further requests may be made as needed based on OBR forecasts.

Key Facts

  • HMRC will seek parliamentary approval for additional resources of £15 billion.
  • Pending approval, urgent expenditure estimated at £900 million and £14,100 million will be met by repayable cash advances from the Contingencies Fund.
  • Further requests to the Contingencies Fund may be made as necessary based on OBR forecasts.
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