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October 23, 2022

Financial Times – Lack of Northern Ireland executive exacerbates budget deficit

People in Northern Ireland have been hit hard by energy price rises in the wake of Russia’s invasion of Ukraine. Around two-thirds use oil for home heating and prices have nearly doubled since last year. The UK government is offering all households £400 towards energy costs and an additional £100 to those households reliant on heating oil, but because there is no executive, the payments that will come from London have not yet been made.

Residents of the region have an average of £92 a week in disposable income after paying for essentials — half the level in London — according to a survey by the Centre for Economics and Business Research commissioned by supermarket chain Asda.

However, the region’s block grant is already at a record high and in the absence of an executive, Heaton-Harris said London would pass a budget for the region but finances are tight and “everybody will have to cut their cloth accordingly”.

Read the full article

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