Written Ministerial Statement
The content of this written ministerial statement is as received at the time from the Minister. It has not been subject to the official reporting (Hansard) process.
Department of Finance - Public Expenditure: Budget 2024-25 - Treasury Funding Available
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Published at 12.00 noon on Tuesday 26 March 2024.
Ms Archibald (The Minister of Finance): The purpose of this Statement is to inform the Assembly of the funding made available by the Treasury for Budget 2024-25, as notified by the Secretary of State for Northern Ireland on 20 March 2024.
In line with my legal obligation under Section 64 of the Northern Ireland Act 1998 I am required to lay before the Assembly a Statement detailing the amount UK funding provided for 2024-25 at least 14 days before laying a draft Budget for the financial year.
The funding that will be provided to the Executive for 2024-25 is set out in the table below.
| £million | Non-ring-fenced Resource DEL | Ring-fenced Resource DEL | Capital DEL | Financial Transactions Capital |
|---|---|---|---|---|
|
|
14,548.344 |
1,104.980 |
1,778.910 |
62.191 |
|
of which |
|
|
|
|
|
Agriculture |
329.380 |
|
|
|
|
Fisheries |
3.100 |
|
|
|
|
Tackling Paramilitarism |
4.848 |
|
|
|
|
Security |
31.230 |
|
|
|
This includes baseline funding and Barnett consequentials, including those from the Chancellor’s Spring Budget, as well as earmarked funding or Agriculture, Fisheries, additional security funding and funding for the Tackling Paramilitarism programme. The latter is to be match funded by the Executive.
Also included is £648.6 million from the financial package which accompanied the restoration of the Executive. This is comprised of £520 million of stabilisation funding, £34 million for Health and Social Care Waiting lists and £94.6 million from the £473 million of repurposed funds for which the Executive will decide the use.
There is a further £47million from the financial package which was not included in the Secretary of State’s letter. This is from the £235 million of repurposed funds which are ring-fenced for transformation. The allocation of this is subject to approval by the Public Sector Transformation Board which is to be established. This funding will be allocated in-year.
As required by legislation, I will demonstrate that the amount of Treasury funding required by any draft Budget does not exceed the amount notified by the Secretary of State as set out in this statement.
