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Stormont: Finance Minister warns of £767m Stormont pressure

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Caoimhe Archibald tells the assembly that ministers will have to avoid spending over their budgets.

Stormont departments are currently facing spending pressures of £767m, the finance minister has told MLAs.Caoimhe Archibald said Stormont can expect to get about £500m extra as a consequence of October’s Westminster budget.

She said the Treasury has been "explicit" that any overspend this year would trigger the suspended repayment of a previous £559m overspend. Ms Archibald also signalled that she is set to propose measures which will mean higher rates bills for some households or businesses.The minister said she wants to "build a progressive rates system which grows our tax base and stimulates our economy".

 

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