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Departmental Expenditure Limits

Volume 472: debated on Wednesday 5 March 2008

To ask the Chancellor of the Duchy of Lancaster pursuant to the Written Ministerial Statement of 19 February 2008, Official Report, columns 34-37WS, on the departmental expenditure limit (2007-08) for what reasons there was a drawdown on the reserve for V matched funding. (191148)

As set out in the written ministerial statement made by my right hon. Friend the Chancellor of the Duchy of Lancaster on 19 February 2008, Official Report, columns 35-37WS, there was a draw down on the reserve of £4,729,000 for v matched funding.

The youth volunteering organisation v is able to draw down on Government match funding on a pound for pound basis, when they secure funding from the private sector, as set out in Budget 2005. This match fund is held in the HM Treasury Reserve to be drawn down by the Office of the Third Sector on behalf of v.