Paul Flynn – 2015 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Paul Flynn on 2015-10-09.

To ask Mr Chancellor of the Exchequer, whether the loan guarantee facility offered to Chinese nuclear companies in his announcement in Beijing on 21 September 2015 remains within the scope of the European Commission’s state aid decision of 8 October 2014 concerning the Hinkley Point C project; and when the Government informed the Commission of that new loan guarantee.

Greg Hands

The Chancellor’s announcement on 21 September 2015 set out that the government and the Hinkley Point C project company had agreed the terms of a £2 billion guarantee through the UK Guarantees Scheme. This guarantee is the first tranche of debt guarantees that was approved as part of the European Commission’s approval of the wider support package for Hinkley Point C. The government is satisfied that the guarantee remains within the terms set out by the EU Commission.