Deputy First Minister Emma Little-Pengelly has described parts of a Treasury review into Stormont's finances as 'absolutely preposterous'. The review suggested that Northern Ireland's ministers could make decisions unlocking up to £3.3 billion in additional annual spending power to address the region's challenging financial situation.
First Minister Michelle O'Neill criticised the review, stating it had the 'wrong starting point', while Ms Little-Pengelly called it 'an absolute missed opportunity'. The Treasury report examined options to improve budget sustainability, including increased efficiencies and revenue-raising measures.
Ms Little-Pengelly questioned the feasibility of raising over £3 billion from a population of approximately 1.9 million, arguing the burden on families would be extraordinary. She stressed the need for a fact-based conversation and noted that proposed revenue-raising and transformation could not be implemented within the current year.
Ms O'Neill highlighted that Stormont departments participated in the open book exercise to make a strong case for fair funding, comparing Northern Ireland's allocation unfavourably with Scotland and Wales. She emphasised the need for a proper funding model to deliver better public services.
SDLP Stormont leader Matthew O'Toole described the situation as 'structurally chaotic', noting that the review was buried by the Executive until it was leaked. The UK Government and Executive have yet to agree on a revised funding arrangement.
