Stormont First Minister Michelle O’Neill has ruled out raising Northern Ireland’s local tax rate by 15%.
Deputy Prime Minister Emma Little-Pengery added that it was too early to propose revenue-raising measures amid back and forth between Belfast and London over funding for the re-established devolved government.
Ministers were speaking during a visit to the Shankill Women’s Center in Belfast.
They earlier visited the Ashton Center and outlined the development of child care support as a key priority for the new executive team.
HM Treasury has announced that Stormont’s debt of approximately 6% will be reduced on condition that the Executive raises £113m, equivalent to a 15% rise in local interest rates, and develops a plan to achieve sustainable public finances. He proposed writing off £100 million.
The provision is a key element of the UK Government’s £3.3 billion fiscal package to support Northern Ireland’s return to devolution.
Finance Minister Caoimhe Archibald said on Tuesday he had “serious concerns” about the details released by the Treasury and had called for an emergency meeting.
“I’m ruling out a 15% rate hike,” O’Neill told the media.
Finance is expected to be a big topic at Thursday’s executive meeting, with Mr O’Neill saying he hoped to “respond to the Treasury’s demands” within the next few days and always knew it would be a “battle”. one day”.
Asked whether the executive branch was realistic about its finances, O’Neill said: Efficiency can also be found. We handle it all.
“But I don’t think it’s acceptable to say we have to pass on further costs to households that are really struggling right now, while we are perceived to be short on funds.
“We will hold discussions with the Treasury Department. This situation will continue over the coming days and weeks.”
Ms Little Pengelly said she wanted Northern Ireland to become sustainable.
“There will be difficult decisions to be made in terms of reform, but we absolutely support the reforms that are needed,” he said.
“But the reality is this: we have many families in Northern Ireland who are in that squeezed middle. We always listen to what they have to say about pressure.”
“What is going on in other parts of the UK? There is so much talk of protecting household incomes, even talk of tax cuts, but in Northern Ireland we are being asked to increase the tax burden on hard-working people. “Family.”
“We are completely united in making a statement to the UK Government and the Secretary of State that now is simply not the right time to do anything like that.
“We need to support families according to the pressures they are under, rather than putting more pressure on them.”