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National Savings and Investments: Winter Supplementary Estimates

Volume 705: debated on Tuesday 25 November 2008

My honourable friend the Economic Secretary to the Treasury (Ian Pearson) has made the following Written Ministerial Statement.

Subject to parliamentary approval of any necessary supplementary estimate, National Savings and Investments DEL will be increased by £152,000 to £166,299,000 and the capital element of DEL will be increased by £950,000. Within DEL change, the impact on resources and capital are set out in the following table:

ChangeNew DELTotal

Voted

Non-voted

Voted

Non-Voted

Resource DEL

5,146

-4,994

166,299

-

166,299

Of which:

Administration budget

5,146

-4,994

166,299

-

166,299

Near cash in RDEL

5,146

-4,994

161,692

-

161,692

Capital

950

-

1,438

-

1,438

Depreciation*

-

-

-3,090

-

-3,090

Total

6,096

-4,994

164,647

-

164,647

* Depreciation which forms part of resource DEL, is excluded from the total DEL since capital DEL includes capital spending and to include depreciation of those assets would lead to double counting.

The change in the capital element of the DEL arises from modernisation fund being drawn down of £950,000 to support running costs on capital expenditure on their estate.

The change in the resource element of DEL arises from:

A drawdown of £152,000 from the Modernisation Fund to support additional running costs associated with capital spending.

The change in the administration budget arises from the Modernisation Fund drawdown.