Contingency Fund Advance: MOD 2023-24 funding Debate
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Grant Shapps
Main Page: Grant Shapps (Conservative - Welwyn Hatfield)Department Debates - View all Grant Shapps's debates with the Ministry of Defence
Contingency Fund Advance: MOD 2023-24 funding
Grant Shapps Excerpts(8 months, 3 weeks ago)
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The Secretary of State for Defence (Grant Shapps)
The Ministry of Defence new cash requirement for the year exceeds that provided by the main estimate 2023-24. The supplementary estimate has not yet received Royal Assent.
The Contingencies Fund advance is required to meet commitments until the supplementary estimate receives Royal Assent, at which point the Ministry of Defence will be able to draw down the cash from the Consolidated Fund in the usual way, to repay the Contingencies Fund advance.
Parliamentary approval for additional resources of £2,450,000,000 and £750,000,000 of capital will be sought in a supplementary estimate for the Ministry of Defence. Pending that approval, urgent expenditure estimated at £3,200,000,000 will be met by repayable cash advances from the Contingencies Fund.
This is a routine Contingencies Fund advance request that has been agreed with HM Treasury. This request does not affect the Ministry of Defence’s departmental expenditure limit position.
[HCWS302]