Commentary on Sections
Sections 1 and 2: Use of resources and limits on use of resources in year ending 31 March 2024
Sections 1 and 2 authorise the use of resources by Northern Ireland departments and other specified public bodies amounting to £28,817,828,000 for 2023-24 for the purposes specified in Part 2 of the estimates set out in Schedule 1. The authorisations in sections 1 and 2 supersede those made by sections 1 and 2 of the Northern Ireland Budget (No. 2) Act 2023.
Sections 3 and 4: Issue and use of sum out of the Consolidated Fund for Northern Ireland for the year ending 31 March 2024
Sections 3 and 4 authorise the Department of Finance to issue out of the Consolidated Fund for Northern Ireland the sum of £23,937,688,000 for 2023-24 for the purposes set out in Part 2 of the estimates set out in Schedule 1. The authorisations in sections 3 and 4 supersede those made by sections 3 and 4 of the Northern Ireland Budget (No. 2) Act 2023.
Section 5: Power to Borrow for the year ending 31 March 2024
Section 5 authorises the Department of Finance to borrow a sum or sums up to approximately half of the sum specified in section 3. This is a normal safeguard against the possibility of a temporary deficiency arising in the Consolidated Fund for Northern Ireland. Any sum borrowed is to be repaid by 31 March 2024
Section 6: Use of Income for the year ending 31 March 2024
Section 6 authorises the use of income by Northern Ireland departments and specified public bodies from a source specified in Part 3 of Schedule 1 for the purposes specified in Part 2 of Schedule 1, subject to certain conditions. The authorisations in section 6 supersede those made by section 6 of the Northern Ireland Budget (No. 2) Act 2023.
Sections 7 and 8: Use of resources and limits on use of resources in year ending 31 March 2025
Sections 7 and 8 authorises the use of resources by Northern Ireland departments and specified public bodies amounting to £18,731,611,000 for 2024-25 for the purposes specified in Part 2 of Schedule 2.
Sections 9 and 10: Issue and use of sum out of the Consolidated Fund for Northern Ireland for the year ending 31 March 2025.
The purpose of sections 9 and 10 is to authorise the issue out of the Consolidated Fund for Northern Ireland the sum of £15,724,763,000 for 2024-25 for the purposes set out in Part 2 of Schedule 2.
Section 11: Power to Borrow in the year ending 31 March 2025
This section authorises the temporary borrowing by the Department of Finance of up to approximately half of the sum covered by section 9. This is a normal safeguard against the possibility of a temporary deficiency arising in the Consolidated Fund for Northern Ireland and any such borrowing is to be repaid by 31 March 2025.
Sections 12: Interpretation
As in Budget bill.
Section 13: Short Title
This section sets out the short title of the Budget Act (Northern Ireland) 2024.
Schedules to the Act
Schedule 1: Estimates for the year ending 31 March 2024.
Schedule 2: Estimates for the year ending 31 March 2025.
