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Contingencies Fund Advance

Volume 688: debated on Wednesday 27 January 2021

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.