Reeves backs Northern Ireland business and public services at Budget
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£370 million budget boost for public services following largest
Spending Review settlement for Northern Ireland Executive in the
history of devolution Pledge to help Northern Ireland
Executive address cost-of-living for working families Chancellor
announces £16.6 million UK Internal Market package to boost trade
between Northern Ireland and Great Britain and back innovation
sectors Rachel Reeves recognised Northern Ireland's £63 billion
contribution to...Request free trial
Rachel Reeves recognised Northern Ireland's £63 billion contribution to the UK economy, with multi-million pound investments in a Belfast to Derry-Londonderry R&D growth corridor and confirmation that advanced manufacturing will be the focus for the Northern Ireland Enhanced Investment Zone. The Chancellor is also ensuring Northern Ireland's public services are fairly funded, with an extra £370 million through the Barnett Formula on top of the largest ever settlement for the Northern Ireland Executive in the history of devolution at the Spending Review. £235 million has also been allocated to transform Northern Ireland's public services. Despite wages growing more in the first year of this government than at any point in the 2010s, the Chancellor was clear too many families are still struggling with the cost of living which is why the Budget included a range of measures to cut bills and boost pay packets. Saying that the fairest way to help people with the cost-of-living was to cut inflation and increase wages, Reeves also confirmed she will fund the Northern Ireland Executive to remove the two-child benefit cap, increase pensions and slash energy bills if they choose to do so. Scrapping the two-child cap in Northern Ireland could lift thousands of children in Northern Ireland out of poverty. Secretary of State for Northern Ireland, Hilary Benn MP, said: This budget will help families in every part of Northern Ireland who have been hit by the rising cost of living for too long. We will scrap the two child benefit limit, directly benefiting thousands of families here, increase the State Pension by 4.8% from April 2026, and the minimum wage. We are also providing an additional £370 million over the SR period through the operation of the Barnett Formula to the Northern Ireland Executive to deliver vital public services such as healthcare and education, on top of the record spending review settlement. We are also backing Northern Ireland businesses with a £16.6 million UK Internal Markets Package to improve trade between Great Britain and Northern Ireland under the Windsor Framework. The budget also brings a new £16.6 million UK Internal Market package to smooth trade across the Irish Sea. This will see the creation of a new ‘one stop shop' to help small and medium enterprises take advantage of their access to the UK and EU markets, with £2.25 million for Intertrade UK to strengthen trade links between Northern Ireland and Great Britain. The move comes as current UK-EU negotiations are set to remove routine checks on animal and plant products moving from Great Britain to Northern Ireland. Reeves also announced reforms to modernise the tax system, asking those with broader shoulders to contribute more through long-overdue fair reforms. Backing growth through business measures and easing trade pressures The £16.6 million UK Internal Market package will see the creation of a “one stop shop” support service to help businesses navigate the Windsor Framework, enabling businesses based in Northern Ireland to take advantage of their access to the UK and EU markets. It will be delivered in partnership between the UK Government and Northern Ireland Executive, ensuring support meets local needs and delivers everyday benefits for the economy of Northern Ireland. Innovation and business investment:
Action to address the cost-of-living: This Budget provides direct support for families:
Investment in public services:
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