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Stormont: Budget for next financial year to be debated in assembly Stormont: Budget for next financial year outlined in assembly
(about 5 hours later)
Stormont's budget for the next financial year will be debated by MLAs on Tuesday. Stormont's budget for the next financial year is just over £11.5bn, according to the budget document produced by the finance department.
The £11.5bn budget was agreed by a majority of executive ministers in December, following the Fresh Start deal. The budget is being debated by MLAs.
It includes more money for health and major infrastructure projects, but most departments face a squeeze. Spending on benefits and pensions in Northern Ireland will be nearly £9bn, meaning that overall government expenditure is around £20bn.
The tight timetable for implementing the budget means there has not been the usual formal consultation process. The document says the taxes generated in Northern Ireland are "considerably less" than the level of funding received from the Treasury.
It is the first opportunity for the assembly as a whole to examine the budget, although departmental committees have had budget briefings over the last two weeks. It says this shortfall, known as the fiscal deficit, was estimated to be more than £9bn in 2013-14.
The budget will be presented by the new Finance Minister Mervyn Storey. Stormont has the power to borrow money under what is known as the Reform and Reinvestment Initiative, introduced in 2002.
He is expected to say that it is a budget that protects the vulnerable and prepares for the future. The document says the level of outstanding debt in respect of these loans will be an estimated £2.1bn by the end of 2016-17.
He is likely to face questions about education spending, which is falling in real terms. Real term reductions
The document says this equates to £1,138 per head of the population.
Finance Minister Mervyn Storey told MLAs Stormont is facing significant real term reductions and it is impossible to do more with less.
The budget document is divided up according to the new nine department structure which will come into effect after the May Assembly election.
The budget includes increases for the new communities department, as well as health and justice.
By contrast, there are cuts for the department of agriculture, environment and rural affairs, the economy department and the executive office, which is the new title for the office of the first and deputy first ministers.
The document shows no percentage change in the education budget.
The new Stormont economy department is taking responsibility for higher education.
The section of the latest budget document dealing with the department is frank about the difficulties facing local universities.
It says: "Over the last number of years, a clear funding gap has emerged and widened between our own universities and those in other parts of these islands.
'Challenge'
"With tuition fees frozen and grant funding reducing, we have been overseeing a reduction in the unit funding provided per student.
"The challenge for Northern Ireland universities is to compete in a very competitive global higher education marketplace.
"If we cannot maintain competitive funding levels, the quality of provision in Northern Ireland will diminish in relation to other parts of the UK and we will end up with a second rate higher education system."
It was the first opportunity for the assembly as a whole to examine the document.
SDLP and Alliance executive ministers voted against the budget but it was approved by DUP and Sinn Féin ministers.SDLP and Alliance executive ministers voted against the budget but it was approved by DUP and Sinn Féin ministers.