Common use of Budget controls Clause in Contracts

Budget controls. The UK Government welcomes the Executive’s plans to establish an Independent Fiscal Council for Northern Ireland. The Council will: • prepare an annual assessment of the Executive’s revenue streams and spending proposals and how these allow the Executive to balance their budget; and • prepare a further annual report on the sustainability of the Executive’s public finances, including the implications of spending policy and the effectiveness of long-term efficiency measures. The membership and terms of reference of this Council will be agreed with the UK Government.

Budget controls. The UK Government welcomes the Executive’s plans to establish an Independent Fiscal Council for Northern Ireland. The Council will: •  prepare an annual assessment of the Executive’s revenue streams and spending proposals and how these allow the Executive to balance their budget; and •  prepare a further annual report on the sustainability of the Executive’s public finances, including the implications of spending policy and the effectiveness of long-term efficiency measures. The membership and terms of reference of this Council will be agreed with the UK Government.