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Economic Downtown/Credit Crunch

Part of Office of the First Minister and deputy First Minister – in the Northern Ireland Assembly at 2:30 am on 13th October 2008.

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Photo of Peter Robinson Peter Robinson DUP 2:30 am, 13th October 2008

Capital budgets and current expenditure must be considered. There could be an impact on the capital expenditure if, for instance, land and property sales were to provide less income than previously expected.

Significant increases in revenue costs can also have implications. Each Minister and Department will have to manage those issues. During the course of the monitoring rounds, they will acquaint the Finance Minister with the pressures that they are under, and he will attempt — by using underspend — to meet the pressures in the system.