Ó Muilleoir responds to Chancellor Hammond’s statement
Date published:
Máirtín Ó Muilleoir has said a U-turn by the British Chancellor on his decision over EU structural and peace fund bids is welcome but will not do enough to offset the economic “turbulence” ahead.
Minister Ó Muilleoir said: “At meetings with the British Brexit Minister David Davis and in communications with the British Treasury, I have made clear the partial guarantee on funding did not go far enough.
“I am pleased therefore that Mr Hammond has now seen sense and will underwrite all letters of offer made between now and when Brexit negotiations are concluded. Missing, however, is a guarantee on how European Union funding streams will be replaced in the future.
“I remain concerned that we are facing into economic turbulence at a time when the Conservative Government is cutting our resource budgets by 4% between now and 2020. Removing that threat to our budgets would be the single biggest stimulus the British Government could provide to ensure we can navigate the choppy economic waters ahead."
Notes to editors:
- Sign up to receive the weekly Minister’s News featuring latest updates from Máirtín Ó Muilleoir, Finance Minister.
- Follow us on twitter @dptfinance and like the Facebook page.
- For media enquires please contact the DoF Press Office on 028 9081 6724 or email dof.pressoffice@finance-ni.gov.uk. For out of hours please contact the Duty Press Officer via pager number 07623 974383 and your call will be returned.