Spending Review doesn’t provide foundation for economic recovery – Murphy
Date published:
Finance Minister, Conor Murphy has responded to the Comprehensive Spending Review outcome announced today by the Chancellor.
Conor Murphy said: “Covid and Brexit create huge challenges for our economy and public services. In that context today’s announcement is disappointing.
"The Executive’s budget for everyday spending on public services stands still while Capital investment needed to kick-start an economic recovery only increases marginally.”
With the deadline to leave the EU looming, Minister Murphy commented on the Shared Prosperity Fund which is intended to replace EU funding, “The British Government promised to fully replace the Executive’s lost EU funding. This promise is absent from the Spending Review. Furthermore, it appears that replacement funding will be controlled by the British Government rather than by local Ministers which is unacceptable.
“The Chancellor’s announcement on freezing pay in the public sector is disappointing and will have implications for the funding of pay awards here.”
The Minister concluded: “Today’s announcement does not deliver the funding we need to support the health service, public services, vulnerable people, businesses and workers.”
Notes to editors:
2021 – 2022 Core Funding: Non Ring-fenced Resource DEL - £11.596bn (excludes £538m for COVID), Capital £1,578.9m, Financial Transaction Capital £73.6m.
2020 – 2021 equivalent: Non Ring-fenced Resource DEL - £11.555.1bn, Capital £1,480.6m, Financial Transaction Capital £194.6m.
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