Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the long-term sustainability of the financial settlement provided to Northern Ireland under the Barnett formula.

The independent Northern Ireland Fiscal Council calculated that the relative need in Northern Ireland is 24% more per head than the rest of the UK for equivalent spending.

As part of the 2024 restoration of the Northern Ireland Executive (NIE) the UK Government and Northern Ireland Executive agreed to add a 24% needs-based factor into the Barnett Formula from 2024-25. This is part of a financial package worth over £3.3 billion.

Including this additional funding, the Northern Ireland Executive is being funded above its relative need in 2024-25. The UK Government will continue to work with the Northern Ireland Executive to agree a final Fiscal Framework.