UK - The government could be forced to subsidise the National Employment Savings Trust to the tune of £379m ($606m), European Commission documents show.
The shortfall - stemming from the scheme's public service obligation and policy constraints - would be too great to be met by private sector finance, the government said.
The documents estimate NEST will require a loan of £904m, with an additional subsidy of £235m, based on a take-up of three million to six million people by September 2016.
But lower than expected take-up could mean a loan of £1.275bn with a subsidy of £379m would be necessary.
The documents confirmed the government loan would not contravene EU rules on state aid.
The government predicted the scheme would take 20 to 27 years to break even.
It also revealed that the total costs for setting up and operating NEST are predicted to be between £856m and £938m for the first 10 years.
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