Oral Answers to Questions — Finance – in the Northern Ireland Assembly at 3:15 pm on 16 September 2024.
Colin Crawford
UUP
3:15,
16 September 2024
T4. Mr Crawford asked the Minister of Finance whether, at the meeting on Thursday, the Chancellor of the exchequer committed to the Barnett provisions anticipated in the Executive's 2024-25 Budget. (AQT 524/22-27)
Caoimhe Archibald
Sinn Féin
If I understand the question, the Member is asking about the additional Barnett consequentials that are based on our assumptions after discussion with the Treasury. They are based on engagement at official level about what is likely to come to the Executive for the rest of the year. As I said in my previous answers, the Barnett consequentials will not be confirmed until we get Supplementary Estimates in January. The Chancellor is not in a position to confirm the Barnett consequentials at this point. The allocations that I intend to make are based on the direction of travel and discussions between officials.
Colin Crawford
UUP
I thank the Minister for her answer. If and when she receives such commitments, will she commit to sharing the details with the Finance Committee as soon as possible?
Caoimhe Archibald
Sinn Féin
I thank the Member for his question. Of course. The relationship between the Department and the Committee is one where such information is regularly shared. We try to be as transparent as possible.
The chancellor of the exchequer is the government's chief financial minister and as such is responsible for raising government revenue through taxation or borrowing and for controlling overall government spending.
The chancellor's plans for the economy are delivered to the House of Commons every year in the Budget speech.
The chancellor is the most senior figure at the Treasury, even though the prime minister holds an additional title of 'First Lord of the Treasury'. He normally resides at Number 11 Downing Street.
Ministers make up the Government and almost all are members of the House of Lords or the House of Commons. There are three main types of Minister. Departmental Ministers are in charge of Government Departments. The Government is divided into different Departments which have responsibilities for different areas. For example the Treasury is in charge of Government spending. Departmental Ministers in the Cabinet are generally called 'Secretary of State' but some have special titles such as Chancellor of the Exchequer. Ministers of State and Junior Ministers assist the ministers in charge of the department. They normally have responsibility for a particular area within the department and are sometimes given a title that reflects this - for example Minister of Transport.
The Chancellor - also known as "Chancellor of the Exchequer" is responsible as a Minister for the treasury, and for the country's economy. For Example, the Chancellor set taxes and tax rates. The Chancellor is the only MP allowed to drink Alcohol in the House of Commons; s/he is permitted an alcoholic drink while delivering the budget.
