29/09/2010

Exchequer Cuts To Be 'Careful'

NI's budget share from the UK Exchequer will be reduced by £2bn over four years. That's the bad news emanating from yesterday's meeting between the First and Deputy First Ministers and the Chancellor, George Osborne in London.

However, the 'better news' is that Stormont boss, Peter Robinson said they had put the case for NI to be treated with special care, particularly in relation to cuts in capital spending.

Martin McGuinness also said the British Chancellor had agreed to show flexibility in dealing with Northern Ireland, despite Mr Osborne's anticipated 'severe cuts' to public spending on 20 October.

The Executive Finance Minister Sammy Wilson has long predicted the local budget could lose as much as £2bn over the next four years and has called for contingency plans to be put in place. See: Wilson Sounds Stormont Budget Warning

(BMcC/KMcA)

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