Public Expenditure

Treasury written question – answered on 16th September 2020.

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Photo of Stephen Farry Stephen Farry Alliance, North Down

To ask the Chancellor of the Exchequer, with reference to the economic effects of the covid-19 pandemic, what assessment he has made of the potential merits of index-linking devolved Administrations' borrowing limits to reflect cost pressures.

Photo of Steve Barclay Steve Barclay The Chief Secretary to the Treasury

The devolved administrations receive a share of funding from UK Government borrowing through the Barnett formula. This demonstrates the significant benefit derived from pooling and sharing resources across our Union.

The UK Government has guaranteed that the devolved administrations will receive a minimum of £12.7bn of additional resource funding in 2020/21. This is an unprecedented guarantee of additional in-year funding.

The devolved administrations can also augment this funding through their own borrowing powers and Reserves, ensuring they have the tools to deliver their response to COVID-19 this year.

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