Corporate report

Annexes

Published 20 October 2022

Annex A: Common core tables

Table 1 - Public spending

This table provides a summary of Departmental net expenditure using the same headings as voted within the Estimate.

	2017-18, Outturn (£’000)	2018-19, Outturn (£’000)	2019-20, Outturn (£’000)	2020-21, Outturn (£’000)	2021-22, Outturn (£’000)	2022-23, Plans (£’000)
Resource DEL
Deliver an ambitious industrial strategy	377,129	182,286	908,525	18,822,515	4,140,456	326,522
Maximise investment opportunities and bolster UK interests	40,218	70,705	73,225	90,816	131,652	76,380
Promote competitive markets and responsible business practices	106,951	116,245	81,333	123,553	208,835	234,713
Delivering affordable energy for households and businesses	32,381	44,155	38,974	83,933	90,117	11,825,967
Ensuring that our energy system is reliable and secure	4,201	4,756	4,723	5,789	903,253	1,654,252
Taking action on climate change and decarbonisation	91,076	24,829	32,518	53,099	83,176	57,802
Managing our energy legacy safely and responsibly	265,752	251,870	234,186	216,909	195,797	190,639
Science and Research	5,088	4,608	6,159	29,390	43,497	17,871
Capability	320,301	393,848	415,591	482,229	486,262	685,678
Government as Shareholder	92,179	41,017	36,273	1,595,733	1,314,153	177,280
Deliver an ambitious industrial strategy (ALB) net	15,172	15,147	21,077	13,127	-	-
Promote competitive markets and responsible business practices (ALB) net	47,622	52,749	53,634	61,407	59,308	72,658
Ensuring that our energy system is reliable and secure (ALB) net	(1,628)	(2,667)	(2,756)	(2,297)	(3,039)	1
Taking action on climate change and decarbonisation (ALB) net	4,834	6,069	8,260	11,217	15,733	21,340
Managing our energy legacy safely and responsibly (ALB) net	34,711	32,075	28,719	32,055	39,668	45,285
Science and Research (ALB) net	234,283	276,226	231,165	227,334	238,498	265,138
Capability (ALB) net	33,635	30,475	34,693	11,103	12,379	1,585
Government as Shareholder (ALB) net	(69,046)	(18,838)	49,962	(7,246)	20,266	(878)
NDA and SLC expenditure (ALB) net	1,254,752	1,175,337	1,330,218	1,245,231	1,427,904	1,516,566
Deliver an ambitious industrial strategy (CFER)	-	-	-	-	(1,454)	-
Science and Research (CFER)	-	-	-	-	(555)	-
Nuclear Decommissioning Authority Income (CFER)	(1,176,795)	(978,373)	(748,104)	(599,466)	(693,853)	(847,851)
Nuclear Safeguards Development	1,189	(2,275)	-	-	-	-
Managing our energy legacy safely and responsibly (CFER)	-	(475,000)	-	-	-	-
Total Resource DEL	1,714,005	1,245,244	2,838,375	22,496,431	8,712,053	16,320,948
Of which:
– Staff costs	533,290	605,821	682,747	816,131	867,646	934,100
– Purchase of goods and services	1,938,532	1,936,315	3,394,359	3,142,383	2,990,283	2,175,691
– Income from sales of goods and services	(1,079,179)	(996,751)	(764,171)	(615,649)	(713,994)	(871,813)
– Current grants to local government (net)	9,587	22,388	183,159	8,121,959	3,936,064	40,963
– Current grants to persons and non-profit bodies (net)	135,838	133,554	177,281	187,621	200,733	11,734,002
– Current grants abroad (net)	59,465	72,274	51,593	75,568	98,113	111,747
– Subsidies to private sector companies	526,638	141,423	100,481	12,481,812	1,439,916	189,200
– Subsidies to public corporations	95,170	61,530	50,081	53,903	953,283	50,000
– Net public service pensions	(9)	(12)	(13)	(19)	-	-
– Rentals	49,177	37,077	46,630	49,830	2,538	2,803
– Depreciation	266,467	310,652	331,470	270,073	335,950	368,222
– Take up of provisions	(165)	-	(32,162)	37,965	(33,722)	1,655,987
– Change in pension scheme liabilities	1,372	547	579	228	243	-
– Other resource	(822,178)	(1,079,574)	(1,383,659)	(2,125,372)	(1,365,000)	(69,954)
Resource AME
Deliver an ambitious industrial strategy	17,448	(312,599)	10,733,189	(10,747,128)	(62,525)	10,163
Maximise investment opportunities and bolster UK interests	1,586	6,044	701	(1,217)	(703)	-
Promote competitive markets and responsible business practices	6,171	79,228	72,282	89,422	72,940	88,300
Ensuring that our energy system is reliable and secure	(415)	(295)	478	(4,108)	338,849	(1,689,000)
Taking action on climate change and decarbonisation	-	-	-	667	241	-
Managing our energy legacy safely and responsibly	(885,264)	(297,497)	(203,397)	(208,322)	(78,851)	(70,709)
Science and Research	45,578	205,985	54,912	86,053	109,627	17,488,795
Capability	13,557	(12,990)	(55,895)	(41,033)	5,305	2,338
Government as Shareholder	(72,885)	807	10,006	17,150	178,940	(11,732)
Renewable Heat Incentive	687,275	817,898	846,092	848,139	919,555	1,079,000
Deliver an ambitious industrial strategy (ALB) net	4,967	(14,444)	36,202	(71,456)	473	28,002
Promote competitive markets and responsible business practices (ALB) net	87	57	973	(221)	375	522
Taking action on climate change and decarbonisation (ALB) net	3,558,227	(2,971,284)	3,543,428	468,485	10,015,257	25,000,000
Managing our energy legacy safely and responsibly (ALB) net	1,507,140	(2,022,249)	22,826	231,227	3,112,786	1,217
Science and Research (ALB) net	94,536	41,299	149,372	64,982	192,049	109,240
Capability (ALB) net	-	1	4	-	10	5
Government as Shareholder (ALB) net	(25,633)	47,451	(99,851)	(354,185)	(520,071)	(15,950)
Nuclear Decommissioning Authority (ALB) net	69,911,856	(101,791,292)	4,371,679	1,027,590	100,605,107	12,835,287
Promote competitive markets and responsible business practices	259,815	319,330	431,123	441,841	260,991	480,000
Total Resource AME	75,124,046	(105,904,550)	19,914,124	(8,152,114)	115,150,355	55,335,478
Of which:
– Staff costs	-	4,404	5,165	5,714	6,164	1,270
– Purchase of goods and services	101,425	145,292	164,120	150,800	44,400	-
– Income from sales of goods and services	-	(3)	(5)	-	-	-
– Current grants to persons and non-profit bodies (net)	353,221	416,439	513,128	540,717	482,671	-
– Current grants abroad (net)	-	-	-	-	-	682,972
– Subsidies to private sector companies	687,275	817,898	846,092	848,814	777,246	1,079,000
– Subsidies to public corporations	-	-	-	-	345,889	-
– Rentals	(2,456)	(2,198)	(2,069)	(2,035)	(2,585)	-
– Depreciation [Note 1]	4,397,424	(1,882,868)	5,575,119	2,602,318	9,815,622	25,296,322
– Take up of provisions	71,236,030	(101,359,925)	17,774,375	4,017,592	106,997,559	28,661,225
– Release of provision	(316,703)	(3,078,344)	(3,035,901)	(13,944,296)	(3,350,663)	(185,324)
– Change in pension scheme liabilities	34,554	29,717	32,501	29,005	40,871	68,000
– Unwinding of the discount rate on pension scheme liabilities	36,924	37,782	38,348	33,467	33,125	80
– Other resource	(1,403,648)	(1,032,744)	(1,996,749)	(2,434,210)	(39,944)	(268,067)
Total Resource Budget	76,838,051	(104,659,306)	22,752,499	14,344,317	123,862,408	71,656,426
Of which:
– Depreciation	4,663,891	(1,572,216)	5,906,589	2,872,391	10,151,572	25,664,544
Capital DEL
Deliver an ambitious industrial strategy	142,364	(54,606)	(14,440)	227,102	240,578	445,398
Maximise investment opportunities and bolster UK interests	289,791	243,957	265,872	492,700	299,682	263,330
Promote competitive markets and responsible business practices	4,751	5,940	6,643	23,159	19,956	38,250
Delivering affordable energy for households and businesses	43,633	32,718	44,502	1,184,722	1,256,203	1,123,400
Ensuring that our energy system is reliable and secure	60	(626)	291	277	1,005,678	1,712,643
Taking action on climate change and decarbonisation	51,578	73,121	154,227	239,432	281,860	341,990
Managing our energy legacy safely and responsibly	7,944	4,278	3,461	5,074,050	5,620,909	4,610
Science and Research	2,634,812	563,177	691,794	787,076	727,173	4,030,633
Capability	18,777	30,305	19,703	35,399	28,012	31,983
Government as Shareholder	(98,418)	172,613	61,445	1,069,581	322,341	255,515
Deliver an ambitious industrial strategy (ALB) net	32	-	-	(8)	-	-
Promote competitive markets and responsible business practices (ALB) net	1,704	1,236	2,030	1,682	2,010	3,440
Taking action on climate change and decarbonisation (ALB) net	39	255	27	284	2,500	2,400
Managing our energy legacy safely and responsibly (ALB) net	15,200	12,128	12,919	17,915	25,769	33,049
Science and Research (ALB) net	4,761,522	7,530,042	7,786,590	9,125,825	8,691,692	8,179,800
Capability (ALB) net	43	2,482	30	2,298	3,558	-
Government as Shareholder (ALB) net	534,574	337,642	395,639	368,759	456,799	434,144
NDA and SLC expenditure (ALB) net	2,051,013	2,002,699	1,797,184	1,799,723	2,023,096	2,161,000
Deliver an ambitious industrial strategy (CFER)	-	-	-	-	(13,333)	-
Science and Research (CFER)	-	-	-	-	(2,091)	(2,102)
Total Capital DEL	10,459,419	10,957,361	11,227,917	20,449,976	20,992,392	19,059,483
Of which:
– Staff costs	480,982	502,376	535,339	612,263	691,071	1,180,444
– Purchase of goods and services	498,431	833,595	819,845	837,114	2,909,334	1,126,520
– Income from sales of goods and services	(276,222)	(260,137)	(273,845)	(261,268)	(306,808)	-
– Current grants to persons and non-profit bodies (net)	3,582,865	5,744,797	6,274,041	7,204,570	7,085,874	7,658,011
– Current grants abroad (net)	330,130	340,794	346,659	401,898	412,292	3,191,382
– Subsidies to public corporations	98,737	-	4,808	21	31	-
– Capital support for local government (net)	41,473	5,826	1,588	1,151,761	652,693	669,400
– Capital grants to persons & non-profit bodies (net)	482,446	888,564	725,074	841,616	496,632	351,000
– Capital grants to private sector companies (net)	22,779	35,518	96,127	160,355	285,675	450,790
– Capital grants abroad (net)	483,289	308,624	449,475	697,326	485,802	222,830
– Capital support for public corporations	81,835	204,229	94,985	74,703	1,462,994	52,109
– Purchase of assets	2,412,651	2,345,321	2,176,780	2,285,092	448,235	2,705,025
– Income from sales of assets	(142,274)	(23,144)	(36,518)	(138,116)	(9,659)	-
– Net lending to the private sector and abroad	319,670	163,080	88,455	1,654,821	798,760	1,408,746
– Other capital	2,042,627	(132,082)	(74,896)	4,927,820	5,579,466	43,226
Capital AME
Promote competitive markets and responsible business practices	-	-	-	-	151	-
Managing our energy legacy safely and responsibly	611,792	35,412	29,419	29,382	23,091	18,677
Science and Research	864	1,212	1,263	1,247	1,271	2,934,000
Capability	-	-	-	-	144	72
Government as Shareholder	(1,909)	(120,000)	37,000	19,718,443	(3,596,201)	885,878
Deliver an ambitious industrial strategy (ALB) net	(3,474)	(16,387)	365	(8,954)	(13,310)	-
Taking action on climate change and decarbonisation (ALB) net	-	-	-	-	54	-
Managing our energy legacy safely and responsibly (ALB) net	-	-	-	-	-	296
Science and Research (ALB) net	(63,845)	(59,692)	(59,496)	(53,610)	(57,467)	-
Government as Shareholder (ALB) net	(119,122)	(11,143)	(3,051)	(221)	(4,975)	-
Managing our energy legacy safely and responsibly (CFER)	-	(141,811)	(142,400)	(142,400)	(142,400)	(142,400)
Government as Shareholder	(1,621,078)	-	-	-	-	-
Total Capital AME	(1,196,772)	(312,409)	(136,900)	19,543,887	(£3,789,642)	3,696,523
Of which:
– Staff costs	(18,719)	(15,325)	(14,078)	(19,813)	(17,149)	-
– Purchase of goods and services	(7,325)	(2,330)	(4,890)	3,149	(1,169)	-
– Current grants abroad (net)	-	-	-	-	-	2,934,000
– Take up of provisions	-	-	-	-	349	296
– Capital grants to private sector companies (net)	(184,787)	-	-	19,781,449	(3,524,201)	85,878
– Capital support for public corporations	129,250	(120,000)	37,000	(63,006)	(72,000)	800,000
– Purchase of assets	318	-	-	-	-	72
– Net lending to the private sector and abroad	(1,732,112)	(169,341)	(145,086)	(151,575)	(160,685)	(142,400)
– Other capital	616,603	(5,413)	(9,846)	(6,317)	(14,787)	18,677
Total Capital Budget	9,262,647	10,644,952	11,091,017	39,993,863	17,202,750	22,756,006
Total Departmental spending	81,436,807	(92,442,138)	27,936,927	51,465,789	130,913,583	68,747,888
Of which:
– Total DEL	11,906,957	11,891,953	13,734,822	42,676,334	29,368,495	35,012,209
– Total AME	69,529,850	(104,334,091)	14,202,105	8,789,455	101,913,091	33,735,679

1. Includes impairments
2. Pension schemes report under FRS 17 accounting requirements. These figures therefore include cash payments made and contributions received, as well as certain non-cash items.
3. Total Departmental spending is the sum of the resource budget and the capital budget less depreciation. Similarly, total DEL is the sum of the resource budget DEL and capital budget DEL less depreciation in DEL, and total AME is the sum of resource budget AME and capital budget AME less depreciation in AME.
* Figures for Plans for staff costs and purchase of goods and services, which include assumptions on future price and pay movements, are redacted in line with HMT guidance.

Notes:
The large increase in spend in 2020-21 on Deliver an ambitious industrial strategy Resource DEL is due to the COVID-19 Business Support Grants (also reflected in the increase for Subsidies to private sector companies and Current grants to local government).

The large increase in spend in 2020-21 on Science and Research Resource DEL is due to the Vaccine Taskforce.

The large increase in spend in 2020-21 and 2021-22 on Government as Shareholder Resource DEL is due to the COVID-19 business support loans.

The large increase in spend in 2019-20 and decrease in 2020-21 on Deliver an ambitious industrial strategy Resource AME is due to the provision raised in 2019-20 for COVID-19 Business Support Grants.

The large increase in spend in 2020-21 on Managing our energy legacy safely and responsibly Capital DEL is due to the Nuclear Liabilities Fund.

The large increase in spend in 2020-21 on Government as Shareholder Capital AME is due to the COVID-19 business support loans.

2019-20 outturn figures differ slightly between lines from those shown in the Statement of Parliamentary Supply as expenditure for Insolvency Service is shown here against Promote competitive markets and responsible business practices and for Financial Reporting Council against Promote competitive markets and responsible business practices (ALB) to reflect current Estimate structures, but was recorded against Government as Shareholder and Government as Shareholder (ALB) respectively in the 2019-20 Estimate.

The large increase in spend in 2015-16 on Delivering affordable energy for households and businesses Resource DEL is due to the Government Electricity Rebate.

Resource DEL expenditure for Nuclear Safeguards Development is shown separately in 2017-18 as this expenditure was funded through a Contingencies Fund advance, pending passage of the Nuclear Safeguards Bill through Parliament. Repayment of that advance in 2018-19 was made against Capability DEL, offset by the credit shown against Nuclear Safeguards Development.

The receipt in 2018-19 against Managing our energy legacy safely and responsibly (CFER) Resource DEL relates to income from coal pension scheme surpluses.

The increase in spend in 2016-17 and 2017-18 against Science and Research Capital DEL and decrease against Science and Research (ALB) Capital DEL reflects the reclassification of expenditure for the Higher Education Funding Council for England (HEFCE) for Science and Research following the Machinery of Government transfer of HEFCE to the Department for Education. With effect from 2018-19 this expenditure falls under Research England as part of UKRI, under Science and Research (ALB).

The figures for Depreciation in Resource AME include the movement in fair value for Contracts for Difference, shown against Taking action on climate change and decarbonisation and Taking action on climate change and decarbonisation (ALB).

The large movements in take up of provisions within Resource AME in 2015-16, 2017-18 and 2018-19 is due to movements in the long term discount rate for provisions. This largely impacts the lines for Nuclear Decommissioning Authority and Managing our energy legacy safely and responsibly (ALB).

The receipt in 2017-18 against Government as Shareholder (CFER) Capital AME reflects the proceeds from the sale of the Green Investment Bank.

In their role as administrator of the government’s GB Renewable Heat Incentive scheme, Ofgem made payments to scheme participants totalling £943,857,915.73, which, when adjusted for net movement on accrued amounts payable, resulted in expenditure of £919,555,205.89 in the financial year 2021-22. Based on Ofgem’s sampling of the population and subject to our detailed assumptions, we can be 95% confident that the estimated value of error for GB Renewable Heat Incentive scheme payments made or accrued in the financial year 2021-22 is between the upper and lower limits of £14,191,973 and £6,023,279. Based on the same assumptions, the most likely estimated value of error for the same period is £10,107,626. This is less than 1.1 per cent of scheme spend in 2021-22.

Table 2 - Administration Budget

	2017-18, Outturn (£’000)	2018-19, Outturn (£’000)	2019-20, Outturn (£’000)	2020-21, Outturn (£’000)	2021-22, Outturn (£’000)	2022-23, Plans (£’000)
Resource DEL
Promote competitive markets and responsible business practices	4,690	4,680	5,093	5,372	4,083	5,269
Science and Research	2	-	(2)	-	-	200
Capability	280,222	350,166	384,234	446,132	459,170	584,544
Promote competitive markets and responsible business practices (ALB) net	8,735	8,783	7,779	8,553	8,989	9,806
Taking action on climate change and decarbonisation (ALB) net	3,447	3,353	5,354	4,465	4,098	5,085
Managing our energy legacy safely and responsibly (ALB) net	7,044	6,912	4,833	5,112	4,485	12,193
Science and Research (ALB) net	3,371	5,547	7,410	7,120	6,182	6,000
Capability (ALB) net	33,635	30,475	34,693	11,103	12,379	1,585
Government as Shareholder (ALB) net	27	62	105	61	74	-
NDA and SLC expenditure (ALB) net	42,121	50,612	52,929	54,925	35,456	45,000
Total Administration Budget	383,294	460,590	502,428	542,843	534,916	669,682
Of which:
– Staff costs	326,207	385,642	434,897	482,310	478,830	436,852
– Purchase of goods and services	154,657	177,288	162,338	167,999	193,797	187,944
– Income from sales of goods and services	(31,151)	(10,220)	(3,726)	(3,092)	(2,345)	(173)
– Current grants to persons and non-profit bodies (net)	493	425	325	818	437	171
– Current grants abroad (net)	170	184	538	572	423	-
– Subsidies to private sector companies	9	-	-	-	-	-
– Subsidies to public corporations	-	28	-	-	4	-
– Net public service pensions	(9)	(12)	(13)	(19)	-	-
– Rentals	34,299	22,485	33,391	35,883	324	585
– Depreciation [Note 1]	22,901	18,850	26,902	28,914	38,075	74,128
– Take up of provisions	(50)	-	3	-	-	-
– Change in pension scheme liabilities	184	141	205	100	60	-
– Other resource	(124,416)	(134,221)	(152,432)	(170,642)	(174,689)	(29,825)

1. Includes impairments.

*Figures for Plans for staff costs and purchase of goods and services, which include assumptions on future price and pay movements, are redacted in line with HMT guidance.

Annex B: Financial information by ALB

The table below shows the total operating income, total operating expenditure, net expenditure for the year, and staff numbers and costs for each of our ALBs.

The figures disclosed below will not tie directly to the published ALB accounts due to the figures below including some adjustments which would have been captured in the ALB’s accounts in the previous year.

The staff costs and numbers for nuclear site licence companies (SLC’s) are not included in the table below. SLC’s staff costs are not included in the table below as they are included in the amount shown for utilisation in the NDA’s nuclear decommissioning provision in note 20.

Financial Information by ALB

	Total Operating income (£m)	Total Operating expenditure (£m)	Net expenditure for the year (including financing) (£m)	Permanently employed staff, Number of employees	Permanently employed staff, Staff costs (£m)	Other staff, Number of employees	Other staff, Staff costs (£m)
Core Department	(521)	26,628	25,857	5,625	383	240	26
UK Space Agency	(2)	500	498	258	17	3	4
Insolvency Service	(54)	391	337	1,675	78	47	3
Companies House	(84)	91	7	1,045	43	-	4
Competition Service	-	5	5	20	2	-	-
Diamond Light Source Ltd	(97)	109	12	670	48	105	3
Financial Reporting Council Ltd	(47)	46	(1)	360	32	-	1
UK SBS Ltd	(40)	40	-	581	25	29	1
National Endowment for Science Technology and the Arts	(3)	31	3	-	-	-	-
United Kingdom Atomic Energy Authority	(225)	225	(16)	1,568	97	514	30
ACAS	(4)	59	55	982	45	25	1
BIS (Postal Services Act 2011) Company Limited	-	7	(14)	-	-	-	-
Enrichment Holdings Limited	-	-	(104)	-	-	-	-
BBB PLC	(68)	322	(454)	508	44	21	-
Oil And Gas Authority	(32)	32	-	184	17	3	-
Northern Powerhouse Investment Limited	11	-	-	-	-	-	-
NDA	(649)	104,134	103,396	349	44	41	3
Coal Authority	(17)	3,124	3,149	300	17	11	1
Civil Nuclear Police Authority	(120)	123	3	1,580	90	19	-
Radioactive Waste Management	(81)	81	-	301	30	43	5
Electricity Settlements Company	(863)	863	-	-	-	-	-
UK Climate Investments LLP	-	3	-	-	-	-	-
Low Carbon Contracts Company	(10,302)	16	-	83	7	10	-
Midlands Engine Investments Limited	1	1	-	-	-	-	-
UK Green Infrastructure Platform Ltd	-	1	(1)	-	-	-	-
Salix	(1)	9	8	102	5	1	(2)
UKRI	(405)	8,921	8,515	6,424	502	1,459	26
Consolidation adjustments	10,563	(12,566)	(1,938)	-	-	-	-
Total Departmental Group	(3,040)	133,196	139,317	22,615	1,526	2,571	106

Annex C: Glossary

ACAS: Advisory, Conciliation and Arbitration Service

AFS: available for sale

ALB: arm’s-length bodies

AME: Annually Managed Expenditure

ARAC: Audit and Risk Assurance Committee

BBB: British Business Bank Plc

BBLS: Bounce Bank Loan Scheme

BEIS: Department for Business, Energy and Industrial Strategy

BNFL: British Nuclear Fuels Ltd

BTI: British Technology Investments Ltd

BVCA: British Venture Capital Association

CAT: Competition Appeal Tribunal

CBILS: Coronavirus Business Interruption Loan Scheme

CCA: Climate Change Agreements

CfD: Contracts for Difference

CLBILS: Coronavirus Large Business Interruption Loan Scheme

CNPA: Civil Nuclear Police Authority

CNPP: Civil Nuclear Pension Plan

COVID-19: Coronavirus pandemic

CRC: Carbon Reduction Commitment

CSOPS: Civil Servant and Other Pension Scheme

DDM: Dynamic Dispatch Model

DEL: Departmental Expenditure Limit

ECL: Expected Credit Loss

EFG: Enterprise Financial Guarantee

EHL: Enrichment Holdings Limited

ESA: European Space Agency

ESC: Electricity Settlements Company

ESRC: Economic and Social Research Council

EUETS: EU Emissions Trading Scheme

EUV: existing-use value

FDP: Funded Decommissioning Programme

FF: Future Fund scheme

FIDeR: Financial Investment Decision Enabling for Renewables

FRC: Financial Reporting Council

FReM: Government Financial Reporting Manual

FVTOCI: fair value through other comprehensive income

FVTPL: fair value through profit or loss

GDF: Geological Disposal Facility

GDPR: General Data Protection Regulation

GGC: Greening Government Commitments

GPA: Government Property Agency

GRAA: Government Resources and Accounts Act

HMT: HM Treasury

HPC: Hinkley Point C

IAS: International Accounting Standards

IFRS: International Financial Reporting Standards

INSS: Insolvency Service

IPEV: International Private Equity and Venture Capital

ISCF: Industrial Strategy Challenge Fund

JET: Joint European Torus

LCCC: Low Carbon Contracts Company Ltd

LEP: Local Enterprise Partnerships

MEIL: Midlands Engine Investment Ltd

MRC: Medical Research Council

MRCPS: Medical Research Council Pension Scheme

NAO: National Audit Office

NDA: Nuclear Decommissioning Authority

NDPB: non-departmental public bodies

NESTA: National Endowment for Science, Technology and the Arts

NIF: National Insurance Fund

NLF: Nuclear Liabilities Fund

NaLF: National Loans Fund

NNHL: National Nuclear Holdings Ltd

NPIL: Northern Powerhouse Investment Ltd

NPLML: NPL Management Ltd

NSTA: North Sea Transition Authority

OCI: Other Comprehensive Income

ODA: Official Development Assistance

Ofgem: Office of Gas and Electricity Markets

OGA: Oil and Gas Authority

ONS: Office for National Statistics

OSL: Ordnance Survey Limited

PCFP: Parliamentary Contributory Pension Fund

PCSPS: Principal Civil Service Pension Scheme

PDC: public dividend capital

PES: Public Expenditure System

PSH: Postal Services Holding Company Ltd

PIC: Projects and Investment Committee

PO: partner organisations

POL: Post Office Ltd

PPE: property, plant and equipment

PV: present value

QA: Quality Assurance

R&D: Research and Development

RHLGF: Retail, Hospitality and Leisure Grant Fund

RMPP: Royal Mail Pension Plan

RPS: Redundancy Payment Services

RSRL: Research Sites Restoration Limited

RWM: Committee on Radioactive Waste Management

SBGF: Small Business Grant Fund

SCS: Senior Civil Servant

SDG: Sustainable Development Goals

SDP: single departmental plan

SFLG: Small Firms Loan Guarantee Scheme

SI: Statutory Instrument

SLC: Site Licence Company

SME: Small and Medium sized Enterprise

SoCNE: Statement of Comprehensive Net Expenditure

SoFP: Statement of Financial Position

SOPS: Statement of Outturn against Parliamentary Supply

STSC: South Tees Site Company Ltd

SULCO: Start Up Loans Company

TCD: Target Commissioning Date

TCW: Target Commissioning Window

TLM: Transmission Loss Multiplier

TME: Total Managed Expenditure

UKAEA: UK Atomic Energy Authority

UKGIP: UK Green Infrastructure Platform Ltd

UKIIF: UK Innovation Investment Fund

UKRI: UK Research and Innovation

UKSA: UK Space Agency

UKSBS: UK Shared Business Services Ltd

VAT: Value-Added Tax

VMIC: Vaccine Manufacturing and Innovation Centre Ltd

WTC: Waste Transfer Contract