He was speaking on the day the Assembly had an opportunity to debate and approve the Executive’s final departmental expenditure plans for 2008-09, and it was revealed that the amount of resources invested in Northern Ireland in this current financial year totals over £15.7billion.
The Minister said: “Over the past year, the Executive has shown its ability to move swiftly to deal with the impact of the global economic downturn.
“To help individuals deal with the pressures facing them we have moved on a number of fronts, for example by reducing the cost of prescription charges with a view to abolishing them next year, by introducing a new fuel poverty package for low income households, by freezing regional rates, and by ensuring pensioners can travel free on public transport.
“This, however, only tells half the story. We have also been able to support local businesses at this time in a number of ways. I have frozen non-domestic rates and announced that I will introduce a small business rate relief scheme. I have also set a target for the public sector to ensure invoices are paid within 10 days, to help local firms with their cash flow.
“Perhaps most significantly of all, though, I am overseeing the delivery of over £1.4billion of capital investment in infrastructure projects, such as roads, schools and hospitals. This is more than double what we spent only five years ago and will further increase next year.”
The Minister also commented on the calls from some for a re-write of the Budget and Programme for Government.
He said: “The Executive’s Programme for Government, unveiled in January 2008, had at its heart, a focus on boosting the Northern Ireland economy to help us compete on a global stage. The events of recent months have only reinforced the importance of this priority.
“Those who are asking for the Budget and Programme for Government to be re-written, conveniently overlook the fact that we are already focussing our efforts on areas that are key to helping Northern Ireland through these economic challenges.
“They also ignore the stark reality that, with no additional money available, a review of the budget will lead to an inevitable fall in some departments’ funding levels, with large departments like Health most likely to suffer, and they provide nothing in terms of a solution in this regard.
“Looking ahead, there will be some tough choices for the Executive to make in the coming years, reflecting the challenges across the industrialised world, however I believe it is now time for the Assembly and Executive to work together to deliver for the people of Northern Ireland.”
Notes to Editors:
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