An inquiry into the funding of key public services in Northern Ireland has been launched by a Westminster committee. The cross-party Northern Ireland Affairs Committee said it would review existing and potential revenue streams for the region.
Delivering a budget for Stormont departments last year, Northern Ireland Secretary Chris Heaton-Harris warned that the region had a “black hole” of £660m in public finances.
The Commons committee will explore the impact of the lack of a functioning executive and Assembly on the management of public finances. This will include the effectiveness of the Barnett Formula that determines the amount of cash that is transferred to Northern Ireland’s departments following budgets to spend on services such as healthcare, policing and education.
