Slugger O'Toole

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£132 million extra capital? Who cares, when we can burn down an Alliance office.

Thu 6 December 2012, 1:24pm

With the local news fixed on the deepening flags furore, you have to look quite hard to find  anything at all on the impact on NI of the Chancellor’s autumn statement less than 24 hours after he made it. Hey, who cares about public money when there are Alliance offices to burn? As far as I can see the CBI were the only one who made much in print of the unheralded 1% cut in corporation tax to 21% throughout the UK. But still no news on NI ‘s bid for special treatment. The stalling continues.  Note with Mark Durkan in the Commons, that what George Osborne meticulously called “Derry Londonderry” has got funding for its super broad band interconnector. Old news, I’m pretty sure but still welcome.   How are the Executive going to spend the £132 capital by the way?

  • An additional capital allocation of £132 million to Northern      Ireland
  • An agreement with the Government to allow the Northern Ireland      Executive to defer up to £50 million of borrowing under the Reinvestment      and Reform Initiative from 2012-13 to 2014-15. This will facilitate the      Northern Ireland Executive’s investment in the project to upgrade the A5.
  • In addition to the £100 million the Government committed to create      the first 10 super-connected broadband cities, £50 million was announced      in Budget 2012 for a second wave of cities to include Derry/Londonderry
  • Cancellation of the 3p rise in fuel tax which was due in January     2013

 

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Comments (2)

  1. RegisterForThisSite (profile) says:

    Brian, to me and you a £132 million is a lot, but in the context that NI is nominally responsible for about £1200million of defense spending every year it’s small change. Maybe in between burning down the offices of political rivals, those who take their seats in the Commons might ask “could we spend that kinda cash more sensibly” or would that be a bit unpatriotic

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  2. Barnshee (profile) says:

    “£132 million extra capital? Who cares, when we can burn down an Alliance office”

    Better still the compensation will be paid out of the block grant- can we classify that as a Capital Spend?

    What do you think?
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