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Serious Fraud Office (Contingencies Fund Advance)

Volume 574: debated on Thursday 30 January 2014

I would like to inform the House that a cash advance from the Contingencies Fund has been sought for the Serious Fraud Office (SFO).

The SFO has incurred higher than anticipated expenditure and a reserve claim has been agreed by HM Treasury as part of the supplementary estimate 2013-14 process.

The advance is required to meet an urgent cash requirement on existing services pending parliamentary approval of the 2013-14 supplementary estimate. The supplementary estimate seeks an increase in both the resource departmental expenditure limit and the net cash requirement in order to settle material liabilities.

Parliamentary approval for additional resources of £19 million will be sought in a supplementary estimate for the SFO. Pending that approval, urgent expenditure estimated at £11 million will be met by repayable cash advances from the Contingencies Fund.

The advance will be repaid upon Royal Assent of the Supply and Appropriation (Anticipation and Adjustments) Bill.