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Minister Sammy Wilson gives Budget 'cautious welcome' | |
(about 1 hour later) | |
Northern Ireland finance minister, Sammy Wilson, has given Tuesday's Budget a cautious welcome. | |
He said he endorsed the government's decision to protect front-line services in health and education. | |
NI Secretary Theresa Villiers said it would boost the economy and ensure fairness for families. | |
But shadow NI secretary Vernon Coaker said that on a day when NI unemployment reached a 15-year high, it did "nothing to help people get back to work". | But shadow NI secretary Vernon Coaker said that on a day when NI unemployment reached a 15-year high, it did "nothing to help people get back to work". |
Northern Ireland was getting a "bad deal", he said. | Northern Ireland was getting a "bad deal", he said. |
Headline measures include: | Headline measures include: |
Mr Wilson said he was particularly glad that the UK Government had acknowledged the key role that capital spending on infrastructure has in stimulating economic growth. | |
He welcomed the decision to exempt NI from the carbon price floor - a tax measure that would have undermined the competitiveness of energy generators within the all-island market, he said. | |
"This not only would have put jobs in the sector at risk but also would have produced higher bills for energy consumers in Northern Ireland. | |
"This was a problem unique to the Northern Ireland energy market and our concerns have now been addressed - this will be much to the relief of hard-pressed households," he said. | |
The minister also welcomed the cancellation of an expected 3p increase in fuel duty. | |
"This additional tax burden would have hit Northern Ireland businesses hard as they already pay some of the highest fuel prices in the UK," he said. | |
A rise in the personal income tax allowance to £10,000 would help 618,000 taxpayers in Northern Ireland, lifting 7,000 out of income tax altogether, he said. | |
"The 2014-15 employment allowance of £2,000 per business will help 25,000 businesses here and lift some 10,000 out of employer National Insurance contributions altogether," he added. | |
Northern Ireland Secretary Ms Villiers said the 2013 Budget recognised "the urgent need to renew and rebalance the economy away from an over-reliance on the public sector". | |
"We need to boost private sector growth and jobs, and today's announcements will provide a stimulus," she said. | |
Speaking from Washington DC, Ms Villiers said families and businesses across NI would benefit from a range of new measures aimed at supporting aspiration, creating jobs and helping with the cost of living. | Speaking from Washington DC, Ms Villiers said families and businesses across NI would benefit from a range of new measures aimed at supporting aspiration, creating jobs and helping with the cost of living. |