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Contingencies Fund Advance

Volume 690: debated on Monday 1 March 2021

The Department for Education has sought a repayable cash advance from the Contingencies Fund of £1,550,000,000.

The requirement has arisen due to increased costs relating to essential expenditure, including that relating to the covid-19 response. The funds associated with this estimate will not be released until the Supply and Appropriation Bill achieves Royal Assent in early March 2021.

Parliamentary approval for additional resources of £852,500,000 and capital of £697,500,000 has been sought in a supplementary estimate. Pending that approval, expenditure estimated at £1,550,000,000 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.