Aiken welcomes Budget provisions for extra £1.6Bn for NI and cuts to APD

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Aiken welcomes Budget provisions for extra £1.6Bn for NI and cuts to APD

Dr Steve Aiken OBE MLA, Chair of the NI Assembly Finance Committee has welcomed measures in the Budget announced today which provide for an extra £1.6Bn for Northern Ireland and cuts to Air Passenger Duty (APD).

Steve Aiken said:

“The statement by the Chancellor, Rishi Sunak, that the UK economy is growing stronger than forecast, must be welcomed by all. That this has enabled an extra £1.6Bn, per annum, to be added to Northern Ireland’s £15Bn annual budget, underlines the advantage of being part of the 5th largest economy in the world.

“While much of the detail continues to be analysed, the significant 50% reduction in Domestic Air Passenger Duty (APD), is something the Ulster Unionist Party has been campaigning hard for. The changes in business tax relief, R&D credits and investments in skills are also areas that the NI Executive should be following to allow our economy to prosper and grow.

“We still have a long way to go to emerge fully from the Covid pandemic but this budget, if properly used to support the needs of Northern Ireland, gives us a good chance.

“The Ulster Unionist Party will be eagerly awaiting the perspective of the Independent Fiscal Council on this budget and their report on the efforts of our Finance Minister and Executive to manage it responsibly.”