Lord Elliott of Ballinamallard
Main Page: Lord Elliott of Ballinamallard (Ulster Unionist Party - Life peer)Department Debates - View all Lord Elliott of Ballinamallard's debates with the HM Treasury
(8 years, 2 months ago)
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Mr Hammond
I have announced today that the UK loan guarantee scheme will be extended until at least 2016. It has a very significant amount of headroom; I think the cap on it at the moment is £40 billion, and we are nowhere near using up that capacity. The important thing about the UK loan guarantee scheme is that it underpins projects at an early stage. Many projects have gone ahead without loan guarantees, but because they had a commitment on the loan guarantee they were able to proceed and then eventually were able to get funding without it. It is playing a very important role that is understated by the measure of guarantees actually issued.
Tom Elliott (Fermanagh and South Tyrone) (UUP)
On the shale wealth fund, is the £1 billion totally Treasury money or is some of it coming from the companies that will be developing the shale gas project?