Public Expenditure: Northern Ireland

Northern Ireland Office written question – answered on 4th November 2019.

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Photo of Gavin Robinson Gavin Robinson Shadow DUP Spokesperson (Home Affairs), Shadow DUP Spokesperson (Defence)

To ask the Secretary of State for Northern Ireland, what steps Northern Ireland Government Departments have taken to encourage the use of Financial Transactions Capital.

Photo of Julian Smith Julian Smith The Secretary of State for Northern Ireland

In 2012-13, the UK Government introduced Financial Transactions Capital (FTC). FTC is designed to stimulate private sector investment in projects that benefit the region, over and above the level of investment made by the Executive from its Departmental Expenditure Limits.

FTC funding is allocated to the Devolved Administrations, which has discretion over its allocation to projects. The Department of Finance in Northern Ireland has provided the following information which sets out the allocation decisions for this year. Further information on how the NI Civil Service encourages the use of FTC can be requested from the Department of Finance in Northern Ireland.

FTC Allocations

2019-20

Invest NI - Agri-Food Loan Scheme

1,000

Invest NI - Growth Loan Fund

2,400

Invest NI Other Projects

4,225

Northern Ireland Science Park

3,190

Higher Education

63,483

Co-Ownership Housing

26,244

NI Investment Fund

30,000

Housing for people with learning disabilities

10,000

Total Projects:

140,542

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