I hereby give notice of the Department of Business, Energy & Industrial Strategy’s intention to seek an advance from the Contingencies Fund in the amount of £4,626,000 for FY 2018/19 to provide financial cover to the Office for Nuclear Regulation (ONR).
This cash advance is sought to enable the ONR to undertake project activities planned for FY 2018/19 (i.e. from April 2018 onwards) to ensure the UK can have a domestic nuclear safeguards regime that meets international nuclear safeguards standards in place from day one of exit.
ONR has already made progress towards delivering this regime with financial support provided from the previous Contingencies Fund advance, notice of which was given on 02 February, and which covered the period up to the end of March 2018.
The Government’s commitment to establish a new domestic safeguards regime was announced on 14th September 2017 and forms a vital part of this Department’s EU Exit preparations for the UK’s nuclear industry.
Parliamentary approval for additional resources of £4,626,000 for this new service will be sought in a Supplementary Estimate for the Department of Business, Energy & Industrial Strategy. Pending that approval, urgent expenditure estimated at £4,626,000 will be met via repayable cash advances from the Contingencies Fund.
The cash advance will be repaid upon receiving Royal Assent on the Nuclear Safeguards Bill and the Supply and Appropriation Bill.
This statement has also been made in the House of Lords