30/10/2018

Budget Worth An Additional £320m For NI

The Chancellor has said his budget will mean additional spending of £320million for Northern Ireland government departments in 2021.

Phillip Hammond said there would be "larger sums to come" as a result of a forthcoming spending revenue.

There was also a £2m one-off payment to help with the impact of the Primark fire in Belfast City Centre.

An August blaze at the historic Bank Buildings which housed the retailer led to 14 businesses being closed, possibly for four months in total.

Mr Hammond announced his budget in a speech on Monday 29 October in the House of Commons.
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Analysis by Stormont's Department of Finance suggests that Northern Ireland will get an extra £44m for day-to-day spending this year and an additional £31m for capital spending.

The Chancellor also approved a city deal for Belfast which will mean £350m of additional funding over 15 years.

Northern Ireland will be the last remaining part of the UK to get a city deal, with 30 other regions across the UK already having secured the funding that is designed to give more spending and decision-making powers to local authorities.

The six councils that lobbied for a Belfast deal hoped to secure £450m of funding from Mr Hammond, with an Executive matching that figure, but the Chancellor said £350m would be made available from the Treasury.



(JG)

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