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Stormont funding: NI Finance minister has concerns with £113m fundraising plan

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Caoimhe Archibald says the offer does not provide a 'sustainable solution' to public sector pay demands.

NI Finance Minister Caoimhe Archibald has said she has "serious concerns" with a Treasury letter on the £3.3bn financial package for a restored executive.The government is asking the NI Executive to raise a minimum of £113m in additional funds as part of the financial package from the Treasury.

Now, the Treasury has written to Finance Minister Caoimhe Archibald outlining details of the package.The NIO said it "contains built-in commitments to ensure progress at pace for the people of Northern Ireland". The fiscal framework would recognise that it costs more to deliver public services in Northern Ireland than in England.

The £113m is the figure the government previously estimated could be raised by increasing the regional rate in Northern Ireland by 15%.Northern Ireland Secretary Chris Heaton-Harris said the package "tackles the immediate budget pressures facing the restored executive and allows it to take action to rapidly stabilise public services, while increasing opportunities for investment and improved infrastructure".

However, he did point to a letter sent to Prime Minister Rishi Sunak last week from all the executive parties, which did mention preparations for revenue raising.What exactly did the letter say?which included the "full text of the letter from executive ministers to the prime minister".

 

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