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26/02/2025
Finance Minister Welcomes Passage Of 2024-25 Budget
Finance Minister John O'Dowd has welcomed the 2024-25 Budget passing its final legislative stages in the Assembly, allowing departments to continue delivering essential public services.
"I welcome agreement of the Budget Bill's final stage. This will enable Departments to continue to deliver vital public services for the rest of the 2024-25 financial year," said Minister O'Dowd. "Attention will now focus on finalising the budget for next year."
He highlighted the collaborative effort of ministers in allocating resources to support workers, families, and communities despite financial challenges. Key allocations included £25 million for early learning and childcare support, which is set to double to £50 million in the 2025-26 Draft Budget, and nearly £1 billion in funding allocated through monitoring rounds to essential services like health, education, policing, social housing, and wastewater infrastructure.
The Draft 2025-26 Budget is currently open for public consultation until March 13th, and Minister O'Dowd encourages participation. "I would encourage everyone to have their say on the Draft 2025-26 Budget to ensure we prioritise the finite funding available to continue doing what matters most," he said.
He also expressed hope for a shift to multi-year budgets, allowing for a more strategic approach to financial planning. "I hope the 2025-26 Budget can be our last single year budget and we can begin to set budgets on a multi-year basis, allowing for a more long-term strategic approach," he stated.
Minister O'Dowd acknowledged the ongoing financial difficulties and his commitment to working with ministerial colleagues to achieve sustainable finances.
He also mentioned his upcoming meeting with finance counterparts in Scotland, Wales, and the UK Treasury to discuss common challenges and advocate for better funding for public services.
"I welcome agreement of the Budget Bill's final stage. This will enable Departments to continue to deliver vital public services for the rest of the 2024-25 financial year," said Minister O'Dowd. "Attention will now focus on finalising the budget for next year."
He highlighted the collaborative effort of ministers in allocating resources to support workers, families, and communities despite financial challenges. Key allocations included £25 million for early learning and childcare support, which is set to double to £50 million in the 2025-26 Draft Budget, and nearly £1 billion in funding allocated through monitoring rounds to essential services like health, education, policing, social housing, and wastewater infrastructure.
He also expressed hope for a shift to multi-year budgets, allowing for a more strategic approach to financial planning. "I hope the 2025-26 Budget can be our last single year budget and we can begin to set budgets on a multi-year basis, allowing for a more long-term strategic approach," he stated.
Minister O'Dowd acknowledged the ongoing financial difficulties and his commitment to working with ministerial colleagues to achieve sustainable finances.
He also mentioned his upcoming meeting with finance counterparts in Scotland, Wales, and the UK Treasury to discuss common challenges and advocate for better funding for public services.
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Northern Ireland WeatherToday:A sunny but frosty start for many. However cloud increases by midday with a few showers reaching the north coast, these mostly light but spreading inland this afternoon. Chilly. Maximum temperature 8 °C.Tonight:A rather cloudy evening with scattered showers. Becoming drier through the night with some good clear spells developing and a patchy frost away from coasts. Minimum temperature 0 °C.
