Commentary on Sections
Section 1: Issue of sum out of the Consolidated Fund for the year ending 31 March 2021 and appropriation of that sum
Sub-section (1) authorises the issue out of the Consolidated Fund of Northern Ireland of the revised sum of £8,225,189,000 for 2020-21.
Sub-section (2) appropriates that sum for the purposes specified in column 1 of Schedule 1.
Section 2: Power of the Department of Finance to borrow
This section authorises the temporary borrowing by the Department of Finance in 2020-21 of approximately half the sum covered by Section 1 (1). This is a normal safeguard against the possibility of a temporary deficiency arising in the Northern Ireland Consolidated Fund.
Section 3: Use of resources (other than accruing resources) in the year ending 31 March 2021
Sub-section (1) authorises the use of resources amounting to £9,050,940,000 for 2020-21.
Sub-section (2) authorises that sum for the purposes specified in column 1 of Schedule 2.
Sub-section (3) specifies the departments and other bodies to which these authorisations apply.
Sub-section (4) confirms that this section does not include accruing resources.
Section 4: Short Title
This section sets out the title of the Budget (No. 2) Act (Northern Ireland) 2020.
Schedules to the Act
Schedule 1: Sums granted for the year ending 31 March 2021.
Schedule 2: Amounts of resources authorised for use in the year ending 31 March 2021.
