Contingencies Fund Advance

Department for International Trade written statement – made on 27th January 2021.

Alert me about debates like this

Photo of Graham Stuart Graham Stuart Parliamentary Under-Secretary (Department for International Trade)

UK Export Finance is seeking a repayable cash advance from the Contingencies Fund of £500,000. The requirement has arisen due to an urgent need to refresh its existing IT equipment (laptops) to meet the needs of the Department and manage its response to Covid-19.

Parliamentary approval for additional capital of £500,000 will be sought in a Supplementary Estimate for UK Export Finance. Pending that approval, urgent expenditure estimated at £500,000 will be met by repayable cash advances from the Contingencies Fund.

The cash advance will be repaid upon receiving Royal Assent on the Supply and Appropriation Bill.