Secretary of State announces support scheme expansion to NIpublished at 14:44 BST
14:44 BST
Image source, PA Media
In a statement issued during the executive press conference, the Secretary of State for NI Hilary Benn announces the expansion of the British Industrial Competitiveness Scheme (BICS) to Northern Ireland.
The BICS is a scheme which cuts bills by up to 25% for over 10,000 manufacturers from April 2027, with no increase to household and business energy bills.
It also includes a one-off additional payment in 2027 to be rolled out to an extra 3,000 businesses and cover support firms would have received from April 2026.
Hilary Benn said he is “pleased to confirm that
the UK Government will provide the Northern Ireland Executive with equivalent
funding to develop a comparable scheme in Northern Ireland, subject to business
case approval”.
“This is the latest in a
number of steps the UK Government is taking to provide vital and timely support
for businesses and households with energy costs.
“Energy policy sits with the
Northern Ireland Executive, and the Government will continue to engage with
Northern Ireland ministers to ensure we are providing support to those most
affected.”
The new funding comes on top of the
Executive’s £19.3bn on average funding settlement in each year of the
Spending Review, as well as the additional £390 million announced at the Spring Statement.
Asked to comment on news of the funding, Finance Minister John O’Dowd said he had been in the executive all morning but would examine the detail.
Asked if it was proof the government had listened to the executive’s pleas, he said that it was not clear “how much they had listened or who they had listened to”, and that it will take time to work through the information.