AQO 2165/22-27

Mr Nick Mathison
Alliance Party
Strangford

Tabled Date: 05/06/2025
Answered On Date: 16/06/2025
Priority Written: No

Question:
To ask the Minister of Finance to outline his next steps following the UK Government’s Spending Review 2025.

Answer:

Last week’s Spending Review set a three-year funding envelope for Resource covering the period 2026–2029, and a four-year funding envelope for Capital covering the period 2026–2030.

This will allow the Executive to set a multi-year Budget in line with the Spending Review.

It is my intention, subject to Executive agreement, to publish a draft multi-year Budget by early December. This will allow for a twelve-week consultation period before a final Budget is agreed by the Executive prior to the start of the new financial year.

Discussions on the long-term work required for a full Fiscal Framework will begin immediately. This cover areas including the borrowing powers of the Housing Executive, the Holtham Review of the Executive’s relative need and fiscal devolution.