Spending Bonanza for Northern Ireland

Gudgin, Graham (2022) Spending Bonanza for Northern Ireland. Birmingham City University, Centre for Brexit Studies Blog.

[img]
Preview
Text
Spending Bonanza for Northern Ireland.pdf - Published Version

Download (132kB)

Abstract

Just before Christmas the UK Government released its figures for public spending for the year up to March 2021. These revealed a whopping £29 billion (£29 thousand million) spent in Northern Ireland – an unprecedented increase of nearly one third on the previous year. This amounts to a huge £15,000 for each person in NI, or £60,000 for a couple with two children. This spending includes the cost of all public services plus social security. Across the whole UK this would normally be financed mainly by taxation but NI has never generated much more than half the tax revenue needed to fund its public services. In the latest year tax revenues from NI amounted to only 40% of the cost of public services. The rest comes from taxpayers in GB, from Treasury borrowing, and in the Covid crisis by the Bank of England printing new money.

Item Type: Other
Dates:
DateEvent
21 January 2022Published Online
Uncontrolled Keywords: Centre for Brexit Studies, CBS, Brexit, BCU, EU, European Union, UK, Birmingham City University, UK Government, UK politics
Subjects: CAH15 - social sciences > CAH15-03 - politics > CAH15-03-01 - politics
Divisions: Research, Innovation, Enterprise and Professional Services > Centre for Brexit Studies
Depositing User: Alex De Ruyter
Date Deposited: 25 Jan 2022 11:12
Last Modified: 25 Jan 2022 11:12
URI: http://www.open-access.bcu.ac.uk/id/eprint/12693

Actions (login required)

View Item View Item

Research

In this section...