Significant financial pressures remain despite additional funding says John O’Dowd
Finance Minister John O’Dowd has welcomed the announcement in the Spring Forecast statement of an additional £390 million in funding but says significant pressures remain.
Speaking after an oral statement to the Assembly, the Minister said: “The Chancellor’s confirmation that the Executive will receive an additional £390 million in funding over the next three years is to be welcomed. However, the reality is that severe pressures on the Executive’s finances remain.
“As demand for public services has grown, so too has the cost of delivering the services our people rightly expect and deserve.
“I am continuing to make the case to the British Government regarding the restoration of the stabilisation fund to help stabilise public services and bring about the transformation of those services to make them fit for now and the future.”
The Minister added: “While significant challenges remain, it is essential we grasp the opportunity presented now to set a multi-year budget.
“The consultation on the multi-year budget closes today. As of lunchtime today, over 300 responses have been received. I want to thank those who have contributed to the consultation.
“I will continue to work in partnership with Ministerial colleagues to find a way forward on the multi-year budget to enable strategic investment that delivers lasting benefits for workers, families and businesses.”
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£390m Barnett boost welcome but waste and inefficiency must be tackled says UUP
Ulster Unionist Party Finance spokesperson Dr Steve Aiken OBE MLA has said that while the Chancellor’s Spring Estimates provide a significant financial boost for Northern Ireland, long standing inefficiencies and a failure to reform how public money is spent continue to undermine public services and infrastructure delivery.
Dr Steve Aiken OBE MLA said: “The Chancellor’s statement on the Spring Estimates has produced an extra £390 million for Northern Ireland in extra Barnett. On top of the £400M ‘roll over’, this gives ¾ billion on top of the £19.8 billion already allocated.
“With this funding, the Northern Ireland Executive should have a fighting chance of keeping public services and key projects moving; however, as the Fiscal Council has made clear, we are particularly inefficient in spending the money we have.
“The disastrous black hole that the Department of Infrastructure has become, where the only thing that the Department seems to achieve is boosting Barristers’ salaries, is just one startling example of why government reform is essential.
“While more money, which we receive as being an integral part of the United Kingdom, is very welcome, it’s well beyond time we started to (spend?) append it wisely; because in too many examples, it’s clear we’re not.”
