Public Expenditure and Taxation: Northern Ireland

(asked on 7th March 2024) - View Source

Question to the Northern Ireland Office:

To ask His Majesty's Government what local revenue raising conditions were attached to the recent financial package awarded to the Northern Ireland Executive.


Answered by
Lord Caine Portrait
Lord Caine
Lord in Waiting (HM Household) (Whip)
This question was answered on 15th March 2024

The UK Government remains determined to support the Executive to maximise the opportunities presented by the financial package.

To help stabilise the Executive’s financial position, the UK Government has agreed to pause its debt repayments from 2022-23 and 2023-24 of up to £559 million and will no longer require these funds to be repaid, subject to the Executive publishing a plan, which outlines how it will deliver sustainable public finances and services, and demonstrating implementation of that plan by May 2025.

This sustainability plan must include the delivery of a balanced budget for 2024-25 by raising a minimum of £113 million through locally generated income. It will be for the Executive to determine if it will consider a different course of action to deliver the public services that Northern Ireland needs as part of its plan for financial sustainability.

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