Finance Minister Caoimhe Archibald finalises deal that will see 24% uplift on Barnett consequentials funding
The Treasury has agreed to review how Stormont is funded in the future as part of a deal that will also see the Executive receive an extra £24 million this year.
That 124% ratio on so-called Barnett consequentials was to apply on Treasury funding announcements made from the start of the current financial year and therefore excluded the Chancellor’s spring budget in March. The £3.3 billion financial package will have already been spent in Northern Ireland prior to the start of the 2026/27 financial year. This had prompted concerns that Stormont would face a financial cliff edge when the additional support dried up.
The Executive in Belfast agreed a budget package last month that Ms Archibald acknowledged had left all departments short of what they required. “Treasury has agreed to the 124% needs-based adjustment factor from Barnett consequentials being applied from the date of restoration of the Executive.
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