Contingencies Fund Advance
(4 years ago)
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The Parliamentary Under-Secretary of State for Business, Energy and Industrial Strategy (Nadhim Zahawi)
I hereby give notice of the Department for Business, Energy and Industrial Strategy having drawn advances from the Contingencies Fund totalling £12,409,000,000 to enable expenditure on covid-19 support packages for business to be spent ahead of the passage of the Supply and Appropriation Act. The schemes are: Small business grant scheme Grant scheme for retail, hospitality, leisure sectors Total £m RDEL 7,330 5,079 12,409
Small business grant scheme
Grant scheme for retail, hospitality, and leisure sectors
The funding is urgently required to support businesses during the coronavirus pandemic, and to enable local authorities to administer the scheme.
Parliamentary approval for additional resources of £12,409,000,000 will be sought in a main estimate for the Department for Business, Energy and Industrial Strategy.
Pending that approval, urgent expenditure estimated at £12,409,000,000 has been met by repayable cash advances from the Contingencies Fund.
The cash advances will be repaid upon receiving Royal Assent on the Supply and Appropriation Bill.
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