Northern Ireland Budget (Anticipation and Adjustments) Act 2018

Official Summary

A Bill to Authorise the issue out of the Consolidated Fund of Northern Ireland of certain sums for the service of the years ending 31 March 2018 and 2019; to appropriate those sums for specified purposes; to authorise the use for the public service of certain resources for those years; to revise the limits on the use of certain accruing resources in the year ending 31 March 2018; and to authorise the Department of Finance in Northern Ireland to borrow on the credit of the sum appropriated for the year ending 31 March 2019.

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Overview

This bill, the Northern Ireland Budget (Anticipation and Adjustments) Bill, authorizes the spending of public funds in Northern Ireland for the financial years ending 31 March 2018 and 2019. It sets out specific sums to be allocated to various government departments and agencies, adjusting previous budget allocations and authorizing borrowing for the 2019 fiscal year.

Description

The bill outlines the financial framework for Northern Ireland's budget. Key aspects include:

2018 Budget: Authorizes £16,114,708,000 from the Consolidated Fund for the year ending 31 March 2018, allocated to various departments (detailed in Schedule 1). It also authorizes the use of £18,040,802,000 in resources and revises limits on accruing resources (Schedule 2).
2019 Budget: Authorizes £7,343,531,000 from the Consolidated Fund for the year ending 31 March 2019, with allocations detailed in Schedule 3. The bill also allows the Department of Finance to borrow up to £3,671,765,000, repayable by 31 March 2019. Resource usage for 2019 is authorized at £8,191,344,000 (Schedule 4).
Legal Standing: The bill legally functions as if it were passed by the Northern Ireland Assembly itself.
Human Rights: A statement declares the bill’s compatibility with the European Convention on Human Rights.

Government Spending

The bill authorizes a total of £16,114,708,000 for the 2018 fiscal year and £7,343,531,000 for 2019. Additional borrowing of up to £3,671,765,000 is permitted for 2019.

Groups Affected

The bill affects numerous groups, including:

Northern Ireland Government Departments: Receive funding allocations for their operations and programs.
Northern Ireland Agencies: Including the Food Standards Agency, Audit Office, and others, receive funding.
Public Sector Workers: Pension and compensation provisions are included.
Citizens Receiving Benefits: Funding for various social security and welfare programs is allocated.
Businesses: Funding allocated to economic development programs may impact businesses and the wider economy.

Full Text

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