AQW 12661/17-22

Mr Andrew Muir
Alliance Party
North Down

Tabled Date: 13/01/2021
Answered On Date: 21/01/2021
Priority Written: No

Question:
To ask the Minister for Infrastructure to detail (i) Translink’s current level of reserves; and (ii) what action she is taking to ensure that Translink’s reserves remain at a level where the organisation can continue to operate as a going concern.

Answer:

I can confirm that Translink’s cash reserves are currently at a level which enables it to meet its daily financial obligations because my Department has been able to put procedures in place to protect Translink’s cash reserves above a minimum independently assessed threshold. However, these reserves are projected to reach the minimum threshold by the end of this financial year not least due to the impact of current lockdown restrictions.

You will be aware of my commitment to maintaining and developing our public transport network. This is a key priority for me both in maintaining and developing sustainable modes of transport which is underpinned by my Department’s impressive capital investment in our public transport network, but also in contributing where I can to the health and prosperity of our community by encouraging modal shift towards the widespread use of public transport by our citizens.

You will also be aware of the engagement I have had with Executive colleagues on the future financial stability of our public transport provider. I have taken action throughout my time as Minister to underline my commitment and I have instructed my officials to explore ways to ensure that my Department continues to meet its obligations to Translink’s financial viability under the current Public Service Agreement. This work is ongoing but to date has resulted in £90m COVID-19 mitigation funding being provided to support our public transport services and our essential workers throughout the pandemic.