The Minister of State, Department for Business and Trade (Chris Bryant)
The Export Credits Guarantee Department—operating as UK Export Finance—is seeking a repayable cash advance from the Contingencies Fund, following budget changes to an IT project to improve its transaction record systems. This is essential to meet the operational needs of the Department and its work supporting exporters.
Parliamentary approval for additional capital of £2,728,000 will be sought in a supplementary estimate for the Export Credits Guarantee Department. Pending that approval, urgent expenditure estimated at £2,728,000 will be met by repayable cash advances from the Contingencies Fund.
The cash advance will be repaid following Royal Assent to the Supply and Appropriation (Anticipation and Adjustments) Bill.
[HCWS958]