Public Expenditure: Northern Ireland
(asked on 23rd October 2019) - View Source
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how much Financial Transactions Capital funding has been allocated to each Northern Ireland Government Department in each year since 2012-13.
Answered by
Rishi Sunak
Prime Minister, First Lord of the Treasury, Minister for the Civil Service, and Minister for the Union
The Treasury sets the Northern Ireland administration’s overall Financial Transaction Capital budget through the normal operation of the Barnett formula.
The annual Financial Transaction Capital budgets of the Northern Ireland administration and total Financial Transaction Capital returned to HM Treasury by the Northern Ireland administration for the period 2012-13 to 2020-21 is set out in the table:
(£m) | Financial Transaction Capital budgets | Financial Transaction Capital returned to HMT |
2012-13 | 11.8 | 0.0 |
2013-14 | 46.8 | 0.0 |
2014-15 | 62.8 | 0.0 |
2015-16 | 129.0 | 0.0 |
2016-17 | 59.2 | 34.5 |
2017-18 | 166.9 | 109.4 |
2018-19 | 182.2 | 171.9 |
2019-20 | 192.4 | n/a* |
2020-21 | 192.8 | n/a* |
Total | 1043.9 | 315.8 |
*Underspend data is not available until the end of each financial year.
Financial transaction funding is ring-fenced for loans or equity investments to the private sector.
The use of these Financial Transaction Capital budgets is a matter for the Northern Ireland administration. This includes the allocation of Financial Transaction Capital budgets to Northern Ireland departments, the drawdown of these allocations, approvals processes, and details of projects that have been funded.