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<p>The UK Government is providing £2 billion of funding to support implementation
of the New Decade, New Approach deal. This includes a £1bn Barnett-based investment
guarantee from the UK Government, which includes significant new funding to turbocharge
infrastructure investment. This guarantee applies in all circumstances, and allows
the Executive to plan new investment.</p><p> </p><p>From the other £1bn in capital
and resource funding, the UK Government has provided the NI Executive with £523m in
2020/21, in addition to the £30m in 2019/20, which was released to support pay parity
for nurses.</p><p> </p><p>The New Decade, New Approach financial package was accompanied
by stringent conditions to deliver a greater level of accountability for public spending
and ensure the new Executive is building sustainable public services. This includes
the establishment of an Independent Fiscal Council that will play an important role
in improving transparency and fiscal performance. Subject to these conditions being
fulfilled, there will be a further £447m released to the Executive over the next four
years. This will be for; public service transformation, nurses’ pay, ultra-low emission
transport, support for the Northern Ireland Graduate Entry Medical School and funding
to address NI’s unique circumstances.</p><p><br></p>
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