British Business Bank

(asked on 15th June 2022) - View Source

Question to the Department for Business, Energy and Industrial Strategy:

To ask Her Majesty's Government what ministerial directions they have given to the British Business Bank; and what were the contents of those directions.


Answered by
Lord Callanan Portrait
Lord Callanan
Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
This question was answered on 28th June 2022

A Ministerial Direction is a formal instruction by a Minister to the Chief Accounting Office of their department to proceed with a spending proposal. These are available on the GOV.UK website.

In the case of the British Business Bank plc, a Written Direction is a formal instruction issued by or on behalf of the British Business Bank’s Shareholder, the Secretary of State for BEIS, to proceed with a requested course of action after the Board has raised its concerns through a Reservation Notice. With respect to the Government’s Covid-19 Loan Schemes, all these notices are publicly available to view on the Bank’s website and GOV.UK.

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