NI departments to get £26m in budget

Gordon Brown's low-key budget speech today included some measures relevant to individuals and businesses in Northern Ireland. NI goverment departments will get an extra £26 million as a consequence of spending increases announced in the Budget.

A new strategy promises a "step change" in the Government's drive to market the UK economy internationally. The UKTI will undertake a programme of organisational change, allocate further resources to increasing trade with emerging markets and implementing an international R&D strategy. An extension to the additional support given to firms with between 250 and 500 employees that are above the current SME research & development tax credit threshold will help build on the £116 million of R&D investment already carried out by firms in Northern Ireland.

The rise in the adult rate of the National Minimum Wage to £5.35 in October 2006, will affect some 20,000 people in Northern Ireland.

The Child Trust Fund will be extended so that all children will receive an additional payment at age 7 of £250 and children from lower-income families will receive £500, potentially benefiting 20,000 children in Northern Ireland.

The Chancellor is also to increase the child element of the Child Tax Credit at least in line with average earnings up to and including 2009-10, potentially benefiting 140,400 families in Northern Ireland.

Any inflation based increase for main fuel duties that will be deferred until September 2006 because of continuing volatility in fuel prices.

An extension to the Climate Change Levy exemption for natural gas in Northern Ireland for a further five years to encourage the development of the gas market.

(SP)