Treasury plan for Stormont to raise £113m will harm families in NI – Archibald
A Government plan for Stormont’s new powersharing executive to raise £113 million in additional funds over the next year will cause “harm to hard-pressed families, households and businesses”, Finance Minister Caoimhe Archibald has said.
The Treasury has offered to write off almost £600 million of Stormont debt, conditional on the executive raising the amount and producing a plan to deliver sustainable finances.
The stipulation is a key element of a £3.3 billion financial package drawn up by the Government to support the return of devolution in Northern Ireland.
Chief Secretary to the Treasury confirmed details of the settlement in a letter to Ms Archibald on Tuesday.
