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HM Treasury written question – answered on 1st October 2015.

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Photo of Lord Empey Lord Empey UUP

To ask Her Majesty’s Government what is the current amount of borrowing by the Northern Ireland Executive as a result of the Reinvestment and Reform Initiative.

Photo of Lord Empey Lord Empey UUP

To ask Her Majesty’s Government what they expect the amount of borrowing by the Northern Ireland Executive as a result of the Reinvestment and Reform Initiative to be by the end of 2015–16.

Photo of Lord Empey Lord Empey UUP

To ask Her Majesty’s Government how much borrowing has been incurred by the Northern Ireland Executive since the beginning of the Reinvestment and Reform Initiative, broken down by financial year.

Photo of Lord O'Neill of Gatley Lord O'Neill of Gatley The Commercial Secretary to the Treasury

A breakdown of the Northern Ireland Executive’s Reinvestment and Reform Initiative (RRI) borrowing for the years 2003-2004 to 2014-15 is provided in the table below.

2003-2004

2004-2005

2005-2006

2006-2007

2007-2008

2008-2009

2009-2010

2010-2011

2011-2012

2012-2013

2013-2014

2014-2015

Total

£million

79

169

163

206

105

260

246

200

375

151

196

259

2,409

So far this year, the Executive have drawn down £80 million of RRI borrowing. The maximum possible drawdown for 2015-16 is £327 million. Of that total, £100 million is additional capital borrowing provided by the Stormont House Agreement. Accessing this additional borrowing is dependent on continuing implementation of that Agreement.

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