Overview

This bill authorizes the spending of public funds in Northern Ireland for the year ending 31 March 2024. It sets spending limits, allows borrowing, and clarifies how income is to be used, all in the absence of a functioning Northern Ireland Assembly.

Description

The Northern Ireland Budget (No. 2) Bill provides the legal framework for public spending in Northern Ireland during the financial year 2023-2024. Due to the lack of a functioning Northern Ireland Assembly, the UK Parliament is stepping in to authorize this budget. The bill:

• Authorizes resource use: A total of £27,403,514,000 is authorized for use, with £24,818,772,000 for current purposes and £2,584,742,000 for capital purposes. This covers various Northern Ireland departments, agencies, and bodies.
• Sets spending limits: The bill outlines specific limits on how the authorized resources can be used, detailing spending categories (departmental expenditure limits, annually managed expenditure, and non-budget expenditure) and ensuring funds are allocated according to pre-approved estimates.
• Authorizes borrowing: The Department of Finance is authorized to borrow up to £11,395,447,000 on the credit of the sum issued from the Consolidated Fund. This borrowing must be repaid by 31 March 2024.
• Governs income use: The bill dictates how income received by the various bodies should be used, stipulating that it must either be used in accordance with the estimates or paid into the Consolidated Fund.
• Replaces previous authorisations: The bill supersedes previous authorisations from the Northern Ireland Budget Act 2023, effectively replacing the previous budget.
• Legal standing: The bill ensures that the authorized spending has the same legal force as if it had been approved by the Northern Ireland Assembly.

Government Spending

The bill authorizes a total spending of £27,403,514,000 for Northern Ireland for the year ending 31 March 2024. This includes £24,818,772,000 for current spending and £2,584,742,000 for capital projects. The Department of Finance is also authorized to borrow up to an additional £11,395,447,000.

Groups Affected

The bill affects a wide range of groups in Northern Ireland:

• Northern Ireland Departments: Their budgets and spending will be governed by this bill.
• Public bodies and agencies: Including the Food Standards Agency, the Northern Ireland Assembly Commission, and others, their funding and operations are covered.
• Public service employees: Salaries and pensions are covered by the budget.
• Recipients of public services: The provision of services like healthcare, education, and social welfare will be directly impacted by the approved funding.
• Businesses: Depending on the specifics of the budget allocation, various government support programs and economic development initiatives will affect businesses.

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