31/10/2014

Draft Budget Agreed By NI Executive

The Northern Ireland Executive has agreed a draft budget for 2015/16.

The news was confirmed in a short statement.

On Thursday, the region's five main political parties held last-minute talks to try to finalise the agreement. The deal will see millions of pounds worth of cuts to a number of departments.

However, despite a deal being reached, it is understood only Sinn Féin and the DUP supported the proposals. The SDLP voted against the plan, while the UUP and Alliance abstained.

Had a draft budget not been reached by today (31 October), an emergency £100m loan from the Treasury would have been lost. This would have left the Assembly at risk of going over its annual spending limit.

In a statement, the parties said: "The Executive has agreed a Draft Budget for 2015/16.

"The Finance Minister Simon Hamilton MLA will make a statement to the Assembly on Monday 3 November when the Draft Budget will be published."

(JP/IT)

Related Northern Ireland News Stories
Click here for the latest headlines.

19 August 2019
Other News In Brief
SDLP Slams Pension Plans The SDLP has hit out at government plans to raise the pension age from 67 to 75. Deputy leader Nichola Mallon said the proposal would condemn thousands into poverty in their old age and warned that the situation would be exacerbated by a no-deal Brexit.
01 August 2019
NI Parties Set Out Brexit Demands
As October 31 draws closer, Northern Ireland's political leaders have laid out their demands for an orderly Brexit with new Prime Minister Boris Johnson. Political leaders have urged the UK premier to avoid a no-deal crash out, while some are calling for the implementation of direct rule if devolution cannot be restored.
09 July 2019
Unionist Parties Urged To Challenge 'Anti-Social Bonfires'
Leaders of unionist parties have been urged to confront and challenge the issue of "anti-social" bonfires. Sinn Fein's Michelle O'Neill demanded action from political unionists as tensions are stirred up in the lead up to bonfire night, Thursday 11 July.
05 July 2019
Parties Urged To Support Marriage Equality Amendment
MPs in Northern Ireland have been urged to support an amendment that would secure marriage equality in the region if the power-sharing government is not restored at Stormont. SDLP leader Colum Eastwood issued the call as Labour MP Conor McGinn leads a cross-party group on extending marriage equality to Northern Ireland.
02 July 2019
Parties Unite To Condemn Tyrone Vandalism
Political representatives have united to condemn an act of vandalism in County Tyrone. According to Cookstown Ulster Unionist Councillor Trevor Wilson, threatening graffiti appeared on the walls of a former police station in Stewartstown, naming people alleged to be prison officers.