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Budget 2016-17

Part of Executive Committee Business – in the Northern Ireland Assembly at 6:30 pm on 19th January 2016.

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Photo of Mervyn Storey Mervyn Storey DUP 6:30 pm, 19th January 2016

No, I am not going to give way because I want to make this point. Some have questioned my qualification to hold this post. I see that some comments were made in relation to that. Let us have a lesson in mathematics. One hundred million pounds of RRI borrowing costs £3 million to £4 million per annum to service, yet that amount spent on the voluntary exit scheme releases over £50 million per annum, meaning the schemes will pay for themselves over a short period of time. Indeed, in 2015-16, the £183 million invested in the scheme will release £149 million in annual savings going forward. So, it is clear to see that those schemes quickly pay for themselves. But, no, some Members just want to say that it is a bad idea. They should tell those in their constituencies who have been able to access the scheme that it was a bad idea.