AQW 5992/17-22

Mr Andrew Muir
Alliance Party
North Down

Tabled Date: 28/07/2020
Answered On Date: 03/08/2020
Priority Written: Yes

Question:
To ask the Minister of Finance for an update on any discussions he has had with HM Treasury regarding greater flexibility for the Executive in terms of borrowing powers, including for resource spending.

Answer:

The Executive is able to access up to £200 million of borrowing each year under the Reinvestment and Reform Initiative. This borrowing can only be used for capital purposes.

I, along with my counterparts in Scotland and Wales, have raised the issue of budget flexibilities, including the use of borrowing for resource spending, with the Chief Secretary to the Treasury on a number of occasions. Unfortunately we have not been able to secure agreement to this at the present time.