David T C Davies
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Contingencies Fund Advance: Wales
David T C Davies Excerpts(1 year, 7 months ago)
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The Secretary of State for Wales (David T. C. Davies)
I hereby give notice of the Wales Office’s intention to seek a repayable cash advance from the Contingencies Fund. The Department requires an advance to meet an urgent cash requirement pending parliamentary approval of the supplementary estimate 2022-23.
The Welsh Government are operating within their budgets, so this does not represent additional spending. However, an increase in net cash requirement will be sought in the supplementary estimate, so accessing the Contingencies Fund will allow the Welsh Government to fund this existing spending in the meantime.
Parliamentary approval for additional non-budget expenditure of £150,000,000 will be sought in a supplementary estimate for the Wales Office. Pending that approval, urgent expenditure estimated at £150,000,000 will be met by a repayable cash advance from the Contingencies Fund.
The advance will be repaid immediately following Royal Assent of the Supply and Appropriation (Anticipation and Adjustments) Bill in March.
[HCWS631]