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21/11/2003
Minister announces relocation of public services funding
Finance Minister, Ian Pearson has announced the reallocation of some £72 million for public services in Northern Ireland.
Making the announcement today the Minister said these latest round of reallocations were part of the routine financial management process, ensuring that savings identified by departments were channelled to priority areas.
Mr Pearson explained that some £114 million was available for reallocation at this time, with £72 million to be allocated now, £32 million to be carried forward into 2004-05, and £10 million to be used to offset the anticipated savings allocated in the previous Monitoring Round in August.
Turning to the allocations for 2003-04, the Minister said: “The substantial sums being allocated at this time will underpin the delivery of key public services in areas such as Health and Education, and will also take forward the important Welfare Reform Programme.”
Significant allocations in 2003-04 include £37.7 million for the Department for Social Development, £13.9 million for the Department of Education, and £7.5 million to the Department of Health, Social Services and Public Safety.
As regards the £32 million to be carried forward to 2004-05, the Minister said: “£15 million will be carried forward to 2004-05 in respect of projects where departments have experienced some delays in taking work forward.
“On 24 September 2003 I announced proposals to help strengthen the competitive position of Northern Ireland through the reduction of electricity bills by some £30 million per year. To fund this, £16.4 million is to be set aside for carry forward into 2004-05 with the balance being met through further in-year savings.”
(MB)
Making the announcement today the Minister said these latest round of reallocations were part of the routine financial management process, ensuring that savings identified by departments were channelled to priority areas.
Mr Pearson explained that some £114 million was available for reallocation at this time, with £72 million to be allocated now, £32 million to be carried forward into 2004-05, and £10 million to be used to offset the anticipated savings allocated in the previous Monitoring Round in August.
Turning to the allocations for 2003-04, the Minister said: “The substantial sums being allocated at this time will underpin the delivery of key public services in areas such as Health and Education, and will also take forward the important Welfare Reform Programme.”
Significant allocations in 2003-04 include £37.7 million for the Department for Social Development, £13.9 million for the Department of Education, and £7.5 million to the Department of Health, Social Services and Public Safety.
As regards the £32 million to be carried forward to 2004-05, the Minister said: “£15 million will be carried forward to 2004-05 in respect of projects where departments have experienced some delays in taking work forward.
“On 24 September 2003 I announced proposals to help strengthen the competitive position of Northern Ireland through the reduction of electricity bills by some £30 million per year. To fund this, £16.4 million is to be set aside for carry forward into 2004-05 with the balance being met through further in-year savings.”
(MB)
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