Overview

This bill, the Northern Ireland Budget (No. 2) Bill, authorises the spending of public funds in Northern Ireland for the financial year ending 31 March 2019. It sets out the amounts to be issued from the Consolidated Fund, allows the Department of Finance to borrow, details how resources will be used, and repeals previous budget acts.

Description

The bill authorises the Department of Finance to issue £8,907,660,000 from the Consolidated Fund for the year ending 31 March 2019. This sum is allocated to various departments and bodies as detailed in Schedule 1. The Department is also permitted to borrow up to £4,453,830,000, repayable by 31 March 2019. Furthermore, the bill authorises the use of £9,934,658,000 in resources (excluding accruing resources) and sets limits on the use of accruing resources, as specified in Schedule 2. The bill ensures that these authorisations and limitations function as if they were passed by the Northern Ireland Assembly. Finally, it repeals the Budget Act (Northern Ireland) 2015 and the Budget (No. 2) Act (Northern Ireland) 2015.

Government Spending

The bill authorises a total expenditure of £8,907,660,000 from the Consolidated Fund. In addition, it allows the Department of Finance to borrow a further £4,453,830,000. The bill also outlines the use of existing resources totaling £9,934,658,000 (excluding accruing resources) and sets limits on the use of accruing resources, bringing the total financial impact to a figure in excess of £23 billion.

Groups Affected

• Northern Ireland Departments: Receive funding allocations for their various services.
• Food Standards Agency: Receives funding for food safety and related activities.
• Northern Ireland Assembly Commission: Receives funding for the operational costs of the Assembly.
• Northern Ireland Audit Office: Receives funding for auditing public funds.
• Northern Ireland Authority for Utility Regulation: Receives funding for regulating utilities.
• Northern Ireland Public Services Ombudsman: Receives funding for investigating complaints.
• Public Prosecution Service for Northern Ireland: Receives funding for prosecutions.
• Citizens of Northern Ireland: Indirectly affected through the delivery of public services funded by the bill.

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