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21/12/2016
Executive Considering Buy Out Scheme To Reduce RHI Bill
The NI Executive is understood to be exploring a plan to "buy out" the contracts of those in receipt of Renewable Heat Incentive (RHI) payments.
According to reports the Executive is investigating if buying out the contracts would help avoid the projected £400 million loss to NI taxpayers.
It is understood that buying out the contract would incur a cost, but one that is believed to be significantly cheaper than the current cost of the scheme.
According to the BBC, a voluntary buy out scheme would allow companies in receipt of the controversial payments to relinquish their contracts. However, it is understood that officials are also seeking advice on a compulsory buy out, ahead of completely shutting down the scheme.
(MH/CD)
According to reports the Executive is investigating if buying out the contracts would help avoid the projected £400 million loss to NI taxpayers.
It is understood that buying out the contract would incur a cost, but one that is believed to be significantly cheaper than the current cost of the scheme.
According to the BBC, a voluntary buy out scheme would allow companies in receipt of the controversial payments to relinquish their contracts. However, it is understood that officials are also seeking advice on a compulsory buy out, ahead of completely shutting down the scheme.
(MH/CD)
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Govt Commits To Almost £300m Funding For Farmers
Local farmers are to share in Direct Payments worth £293 million this year, the Department for Agriculture has confirmed. Agriculture Minister Edwin Poots announced the funding during a visit to Ballymena Mart on Tuesday, setting out his aims to make full payments from 16 October 2020. It follows the necessary legislation in Parliament.
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Local farmers are to share in Direct Payments worth £293 million this year, the Department for Agriculture has confirmed. Agriculture Minister Edwin Poots announced the funding during a visit to Ballymena Mart on Tuesday, setting out his aims to make full payments from 16 October 2020. It follows the necessary legislation in Parliament.
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Northern Ireland WeatherThis Evening and Tonight:It will be cloudy. Also mainly dry at first this evening but then occasional outbreaks of rain developing overnight. Light southwest winds, and staying mild. Minimum temperature 9 °C.
