What does the Finances imply for Northern Eire?

The chancellor holds his red box outside Downing Street

Image source, Treasury

The chancellor has said his Budget will mean an additional £130m for public spending in Northern Ireland over the next two years.

But Treasury tables show the amount for Stormont departments will fall from £13.8bn this financial year to £13.5bn next year and £13.7bn in 2024-45.

Stormont’s Finance Department is expected to produce its own figures later.

The £130m is a result of the Barnett formula.

The formula is used to determine annual changes in the block grant to Northern Ireland, Scotland and Wales.

Typically it would fall to politicians in the power-sharing government at Stormont to decide how any extra cash from the Budget is spent.

But with the Stormont executive not functioning due to a boycott by the Democratic Unionist Party (DUP), that responsibility could fall to Northern Ireland Secretary and civil servants.

What will Northern Ireland get from the Budget?

In addition to the £130m as a result…