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Northern Ireland

Northern Ireland will benefit from measures announced in the Spending Review:

• Funding for the Northern Ireland Executive for a £175m loan and a £25m access fund, to ensure a just and fair resolution of issues arising from the collapse of the Presbyterian Mutual Society;
• The Government will continue to support the Reinvestment and Reform Initiative in Northern Ireland at a rate of £200 million per annum; and
• The Government will publish a consultation paper on re-balancing the Northern Ireland economy later this year.

Fairness

• above indexation increases in the child tax credit, funded by savings from restricting child benefit entitlement for households with a high rate taxpayer, potentially benefiting over 140,000 families in Northern Ireland.

Latest Employment statistics

• Over the last year there has been a 2.4 per cent rise in employment and no change in the unemployment rate; and 
• The public sector workforce is 30.5% of the total workforce.

The Spending Review builds on the foundations for sustainable, balanced, private sector-led recovery set out in the Chancellor’s June Budget. The Budget announced a number of initiatives which will help build an economy that works for Northern Ireland.

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