§ Mr. Kenneth Baker
Subject to parliamentary approval of the necessary Supplementary Estimate, the cash limit on class XII, vote 3 is being increased by a total of £7.583 million to facilitate the creation of a new university institution in Cardiff. The effect of this change is as follows:
Class, Vote and Description of Expenditure £'000 XII 3 Universities, etc Current cash limit 1,706,618 Revision +7,583 Revised cash limit 1,714,201
The Supplementary Estimate will include provision for a repayable grant of £4.402 million (of which £4.279 million will be charged to the Reserve, after taking account of offsetting savings), with repayments benefiting the Reserve in future years. The remainder, £3.304 million, will be funded by a transfer of £1.652 million from Welsh Office provision (class XVII, vote 5) and £1.652 million from the Reserve. The increase will not add to the public expenditure planning total.