{"value":{"id":486094,"memberId":4536,"member":null,"memberRole":"The Commercial Secretary to the Treasury","uin":"HLWS638","dateMade":"2016-03-24T00:00:00","answeringBodyId":14,"answeringBodyName":"HM Treasury","title":"Contingencies Fund Advance: UK Government Investments Ltd","text":"<p>My honourable friend the Economic Secretary to the Treasury (Harriett Baldwin) has today made the following Written Ministerial Statement.</p><p>In May 2015 the Chancellor announced that the Shareholder Executive (ShEx) and UK Financial Investments (UKFI) were to be brought together under a single holding company, UK Government Investments (UKGI). UKGI was incorporated on 11<sup>th</sup> September 2015 and will commence operations from 1 April 2016.</p><p> </p><p>The resources and cash to finance UKGI’s spending will form part of HM Treasury’s Main Estimate for 2016-17. Parliamentary authority enabling UKGI to be funded is included in the Enterprise Bill which is currently before Parliament but is yet to receive Royal Assent.</p><p> </p><p>Parliamentary approval for resources of £12,100,000 for this new service will be sought in the Main Estimate for HM Treasury. Pending that approval, urgent expenditure estimated at £ 2,400,000 will be met by repayable cash advances from the Contingencies Fund.</p>","house":"Lords","noticeNumber":0,"hasAttachments":false,"hasLinkedStatements":true,"linkedStatements":[{"linkedStatementId":486090,"linkType":"JointStatement","linkDate":"2016-03-24T00:00:00"}],"attachments":[]},"links":[{"rel":"self","href":"/Statements/486094","method":"GET"}]}