Statement made by
I would like to inform the House that a cash advance from the Contingencies Fund has been sought for the Serious Fraud Office (SFO).
In line with the current arrangement for SFO funding agreed with HM Treasury, the SFO will be submitting a Reserve claim as part of the Supplementary Estimate process for 2017-18.
The advance is required to meet a current cash requirement on existing services pending Parliamentary approval of the 2017-18 Supplementary Estimate. The Supplementary Estimate will seek an increase in both the Resource Departmental Expenditure Limit and the net cash requirement in order to cover the cost of significant investigations.
Parliamentary approval for additional resources of £9,500,000 will be sought in a Supplementary Estimate for the Serious Fraud Office. Pending that approval, urgent expenditure estimated at £9,500,000 will be met by repayable cash advances from the Contingencies Fund.
The advance will be repaid upon Royal Assent of the Supply and Appropriation (Anticipation and Adjustments) Bill.