Member

The additional financial reporting requirements in subsection (2) of the new clause are unnecessary because the information required to be reported under that subsection will be reported in any case through the Treasury’s existing channels. The first tranche of the loan will be disbursed from the Treasury in the financial year to 31 March 2025. The spend will therefore be reflected accordingly in the Department’s detailed annual report and accounts for this financial year alongside disclosure of any narrative associated with the spend.