AQW 9731/17-22 Written question to the Minister of Finance
To ask the Minister of Finance whether there are any Barnett consequentials arising from the UK Government’s economic support announcements on 31 October 2020.
Asked by Andrew Muir MLA on 4 November 2020
- Answered
- Written
- Tabled
- 4 November 2020
- Answer due by
- 19 November 2020
- Answered
- 9 November 20205 days after tabling
- Department
- Department of Finance
- Priority question
- No
Answer
The funding for business support grants in England which was announced on 31 October is anticipated to attract a Barnett consequential however for 2020-21 COVID funding has been provided to the Executive via the Treasury Guarantee.
This guarantee is designed to provide upfront COVID-19 funding, avoiding the drip-feed of Barnett consequentials following announcements of English programmes, thereby assisting the Executive to plan appropriately. In that regard it is not possible to confirm the elements which make up the guarantee until funding is reconciled to English programmes at the end of the year.
The Chancellor’s 5 November announcement included an additional £400 million, bringing the total Guarantee for the Executive to £2.8 billion.