Overview

This bill authorizes the UK government to provide financial aid to Ukraine. The aid can take the form of loans or other financial assistance, stemming from agreements made at the G7 summit in June 2024 and any subsequent related agreements.

Description

The Financial Assistance to Ukraine Bill allows the UK government to give financial aid to the Ukrainian government. This aid is specifically linked to:

• The "Extraordinary Revenue Acceleration Loans for Ukraine" announced at the June 2024 G7 summit in Italy.
• Any future agreements that expand, change, or replace the original June 2024 agreement.

The money for this assistance will come from the UK Parliament's budget. The bill’s short title will be the Financial Assistance to Ukraine Act 2025.

Government Spending

The bill doesn't specify the exact amount of money that will be allocated. The amount will be determined by the Treasury and the Secretary of State, and the money will be drawn from funds provided by Parliament. No specific figures are provided in the bill itself.

Groups Affected

The primary group affected is the Ukrainian government, which will receive the financial assistance. The UK taxpayer is also affected, as the funds will come from public money. The UK government (specifically the Treasury and Secretary of State) will be responsible for managing and disbursing the funds.

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