Statement
HM Treasury has agreed additional Resource DEL and Capital DEL funding of £88,414,000 for National Savings and Investments (NS&I) as part of Spending Review 2025 phase 1 during the 2024 Autumn Budget. The additional resource supports NS&I’s Business Transformation Programme which will see it transition to a modernised operating model, with multiple service delivery partners. The funding also supports the Capital DEL requirements for NS&I’s moving between offices in London.
Parliamentary approval for additional resource of £40,630,000 and capital of £17,120,000 has been sought in a Supplementary Estimate for NS&I. Pending that approval, urgent expenditure estimated at £57,750,000 will be met by repayable cash advances from the Contingencies Fund.