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 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 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 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 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.
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.
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.
As in Budget bill.
This section sets out the short title of the Budget Act (Northern Ireland) 2024.
Schedule 1: Estimates for the year ending 31 March 2024.
Schedule 2: Estimates for the year ending 31 March 2025.