Wilson meets with other UK Finance Ministers to discuss 2010 spending review

Finance Minister Sammy Wilson has met with the Chief Secretary to the Treasury as well as the Finance Ministers from the Scottish and Welsh Governments to discuss public expenditure issues as work progresses on the UK 2010 Spending Review.

Speaking from London where the meeting was held, the Minister said: “The next few months will be critical for the Executive as the Government takes forward the 2010 Spending Review. This will determine the amount of funding available to the Executive over the period 2011-12 to 2014-15 and is due to conclude in October. However, the forecasts published by the Chancellor of the Exchequer last month clearly indicate that there will be a reduction in public spending over the next four years.

“In this context I welcomed this opportunity to meet with my colleagues from the rest of the UK to discuss the way forward for the Spending Review, and to share views on the actions being taken in our respective administrations to promote economic growth and to prepare for the more constrained financial position going forward. I am keen that we learn from best practice across the UK to enable the Executive to continue to provide the best possible public services and support to business.”

The Minister also highlighted the potential impact of cuts in public spending on Northern Ireland as well as the need for advance notice of the likely Spending Review settlement for the Executive.

The Minister said: “Although the long term objective is to rebalance the local economy by further developing the private sector, the reality is that Northern Ireland is currently more reliant on the public sector than other parts of the UK. Whilst the whole of the UK will need to play a part in reducing public sector borrowing, I stressed the point to the Chief Secretary to the Treasury that the 2010 Spending Review settlement for the Executive will need to reflect the fact that cuts in UK public spending would have a disproportionate impact on the Northern Ireland economy.

“However, it is important that the Executive also takes responsibility with work ongoing at Ministerial level, and within departments, on the local Budget 2010 process to identify where savings can be made over the coming years to minimise the impact of the expected reduction in available resources. I also highlighted to the Chief Secretary, the importance of the Executive being provided with early warning of the precise details of the likely outcome of the Spending Review so that my Executive colleagues and I can more effectively plan for the future.”

The Minister concluded: “I intend to have further meetings with the Chief Secretary in the coming months to discuss issues of specific concern for the people of Northern Ireland. Although I recognise the importance of all parts of the UK pulling together to work through the current economic difficulties, my main focus remains on seeking to secure the best possible outcome for the people of Northern Ireland.”

Notes to editors:

1. The quadrilateral Meeting of UK Finance Ministers was attended by the Chief Secretary to the Treasury, Rt Hon Danny Alexander MP, the Cabinet Secretary for Finance and Sustainable Growth in the Scottish Government, John Swinney MSP and the Minister for Business and Budget in the Welsh Assembly Government, Jane Hutt AM.
2. Also attending were the Secretary of State for Northern Ireland, Rt Hon Owen Patterson MP, the Secretary of State for Scotland, Rt Hon Michael Moore MP and the Secretary of State for Wales, Rt Hon Cheryl Gillan MP.
3. Media enquiries only to DFP Communications Office on 028 9052 7374 or 028 9052 7375. Out of office hours please contact the Duty Press Officer via pager number 076 9971 5440 and your call will be returned.