O’Dowd responds to Spending Review
Date published:
Finance Minister, John O’Dowd has responded to the Spending Review outcome announced today by the Chancellor.
Commenting on the Relative Funding Methodology agreed with Treasury Minister O’Dowd said: “I have been consistent in calling on the British Government for greater investment in public services and a fair funding model.
“As a result of negotiations with Treasury since the beginning of this mandate, my predecessor and I have delivered an additional £1.3bn for public services here. My agreement with Treasury has avoided the financial cliff edge I have warned of becoming a reality and the damage that would have caused to public services”
Speaking following the Spending Review, Minister O’Dowd added: “While in accountancy terms we have received additional Barnett funding of £3.1 billion in day-to-day funding over three years it must be viewed in the context of the many growing demands and the increased costs of delivering public services.
“The reality is the Executive will still remain in a financially constrained position particularly in 2026-27 with the majority of the funding not coming until future years.
“It is clear that significant challenges remain for our public services.”
Turning to capital funding, Minister O’Dowd added: “While we will see over £800 million of Barnett on capital funding over four years there was the potential to be more ambitious and spur economic growth.
“I welcome the £50 million commitment from the Westminster Government to support the redevelopment of Casement Park. All partners involved should now work together to get Casement Park built. I stand ready to play my part.”
Concluding Minister O’Dowd said: “A multi-year Budget will enable the Executive to plan on a longer-term basis.
“I have been clear I want the multi-year budget to create the conditions and circumstances for transformation.
“While this Spending Review hasn’t provided the economic stimulus it could have, I will work together with my Executive colleagues to develop a budget which supports families, workers and communities.
Notes to editors:
- The capital funding referenced includes Financial Transaction Capital Funding.
- The breakdown of core funding from the Spending Review is as follows:
2026/27 - Non ring-fenced Resource DEL £16.3bn / Capital £2.3bn / FTC £91.7m
2027/28 - Non ring-fenced Resource DEL £16.8bn / Capital £2.3bn / FTC £92.6m
2028/29 - Non ring-fenced Resource DEL £17.3bn / Capital £2.3bn / FTC £118.6m
2029/2030 - Capital £2.3bn / FTC £140.7m
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