{"value":{"id":515580,"memberId":4536,"member":null,"memberRole":"The Commercial Secretary to the Treasury ","uin":"HLWS681","dateMade":"2016-04-26T00:00:00","answeringBodyId":14,"answeringBodyName":"HM Treasury","title":"UK Guarantee for Countesswells Development Limited","text":"<p>My right honourable friend, the Chief Secretary to the Treasury (Greg Hands) has today made the following Written Ministerial Statement.</p><p> </p><p>The UK Guarantees scheme was announced in July 2012 with spending cover provided through the Infrastructure (Financial Assistance) Act 2012, receiving Royal Assent on 31 October 2012. The scheme provides a sovereign-backed guarantee to help infrastructure projects raise debt finance. Guarantees for up to £40 billion in aggregate can be offered under the initiative.</p><p> </p><p>The government is confirming that it has approved the provision of a guarantee for up to £86 million to the Countesswells project for the construction of over 3,000 homes on the Countesswells site in Aberdeen.</p><p> </p><p>The government will report to Parliament on the financial assistance given in line with the requirements set out in the Infrastructure (Financial Assistance) Act 2012.</p>","house":"Lords","noticeNumber":0,"hasAttachments":false,"hasLinkedStatements":true,"linkedStatements":[{"linkedStatementId":515582,"linkType":"JointStatement","linkDate":"2016-04-26T00:00:00"}],"attachments":[]},"links":[{"rel":"self","href":"/Statements/515580","method":"GET"}]}