Overview Northern Ireland loans limit
16.The Act amends the Northern Ireland (Loans) Act 1975 (c.83) by increasing from £2000 million to £3000 million the aggregate limit on specified loans for capital purposes to the Northern Ireland Consolidated Fund. It also allows the Secretary of State, by order and with the consent of the Treasury, to further increase the limit by an amount not exceeding £500 million. It removes the limitation on the number of times such an increase may take place but each increase will need to be approved by the Treasury.