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Contingencies Fund Advance: National Savings and Investments

HM Treasury has agreed additional Resource departmental expenditure limit (DEL) and Capital DEL funding for National Savings and Investments (NS&I), supporting NS&I’s Business Transformation Programme, which will see it transition to a modernised operating model, with multiple service delivery partners.

Parliamentary approval for additional resource of £40,000,000 and capital of £69,000,000 will be sought in a Supplementary Estimate for NS&I. Pending that approval, urgent expenditure estimated at £109,000,000 will be met by repayable cash advances from the Contingencies Fund.