AQW 14201/17-22

Mr Andrew Muir
Alliance Party
North Down

Tabled Date: 05/02/2021
Answered On Date: 15/02/2021
Priority Written: No

Question:
To ask the Minister for Infrastructure to detail (i) Translink’s reserves at the start of the pandemic as at 11 March 2020; and (ii) Translink’s reserves following the allocation of £15 million on 2 February 2021.

Answer:

Translink’s cash reserves at the end of the 2019-20 financial year which coincided with the start of the pandemic were approximately £24m.

As you have correctly stated, the Executive has allocated an additional £15m to Translink to support its financial viability in recognition of the losses it has sustained over recent years. This funding is in addition to an extra £35m allocated to Translink for the same reason. This support, totalling £50m, will be paid to by Department to Translink before the end of March 2021.

In this regard, it is estimated that Translink’s reserves will be in the region of £70m at the end of the financial year. This funding will help to protect our public transport network and assist in preserving Translink’s financial health in the short term as our public transport network will continue to deal with the impact of COVID-19 into the next financial year.