Commentary on provisions of Act Section 1 – Issue of sums out of the Consolidated Fund for year ending 31 March 2018 and appropriation of that sum
Section 1 authorises the issue out of the Consolidated Fund of Northern Ireland the sum of £16,114,708,000 for the purposes set out in Schedule 1. This authorisation supersedes those amounts previously authorised by the Northern Ireland Budget Act 2017. This is not new money, as it is an authorisation for issue from the Consolidated Fund of Northern Ireland as would normally be done by the Assembly. The sums referred to are those already appropriated by Parliament, together with revenue generated locally within Northern Ireland under the Assembly’s devolved powers.