Written Ministerial Statement

Published on 25 March 2021.

Mr Murphy (The Minister of Finance): I wish to update the Members on the further funding allocations that have been made since my previous Statement of 10 February.

The written Statements on 2 February and 10 February detailed the reduced requirements notified and allocations made at each of those points.  Allocations announced since then and any reduced requirements notified at since 10 February are detailed in the tables to this statement.

Funding Available

At the conclusion of January Monitoring unallocated funding of £346.4 million Resource, £28.3 million Capital and £55.7 million Financial Transactions Capital remained.  Ministers were asked to come forward with spending proposals to use this funding and the four sets of allocations since then are as a result of that work.

25 February Allocations

The Department of Finance received £20.0 million Resource DEL for the Local Restrictions Support Scheme and £0.5 million for support for soft play areas.

The Department for Infrastructure received £16.0 million Resource DEL in relation to a shortfall in the NI Water pension scheme.  In addition £2.5 million Capital DEL was provided for the A6 Derry to Dungiven Flagship Project in view of the progress being made.  

Significant investment by the Belfast Harbour Commissioners will be funded by borrowing, this requires Capital DEL budget cover and £10 million has been allocated to the Department for Infrastructure for this purpose.

25 March Allocations

The Department of Finance will receive £208.9 million, including £31 million to extend the Local Restrictions Support Scheme in view of the continued restrictions.  The remaining funding will provide top up payments to businesses which received either the Small Business Grant or the Grant for Retail Hospitality Tourism and Leisure but which have been unable to access the Localised Restrictions Support Scheme or the Coronavirus Business Support Scheme. 

I have also brought forward proposals for a one off grant for businesses with a large Net Annual Value and medium sized industrial businesses both sectors have not been able to access support to this point.  The total cost of these proposals is estimated at £177.9 million Resource DEL

The Executive Office will receive £1.2 million to help address the impact of Covid on travel agents by providing much needed support.

The remaining £17.7 million of funding available for allocation has been allocated to the Department for Communities for Housing Executive maintenance.

Detail of these allocations is shown in the tables accompanying this statement.

Outcome

In making these allocations the Executive has ensured that all available Resource DEL funding has been allocated.  Any spending proposal brought forward by a department to provide Covid support to individuals and businesses since the conclusion of January Monitoring has been met in full.  £55.3 million Financial Transactions Capital remains unallocated and while we can carry forward some unspent funds to 2021-22 it is inevitable that again some of this funding will be lost.  There remains a £0.4 million unallocated in Capital DEL as a result of a late surrender of £1.5m from DoJ.

Conclusion

It is now for us as individual Ministers to deliver on that and to ensure that those who need support get it and that this vital funding is spent in full by the end of the financial year, delivering on Covid support and the provision of public services.