Arab Today, arab today invest northern ireland set to return millions of pounds
Last Updated : GMT 09:21:29
Arab Today, arab today
Arab Today, arab today

Invest Northern Ireland set to return millions of pounds

Arab Today, arab today

Arab Today, arab today Invest Northern Ireland set to return millions of pounds

Belfast- Arabstoday

The underspend is being blamed on firms postponing their investment plans due to the difficult economic climate.Due to spending cuts, many public bodies and government departments are struggling to meet their commitments.But the Department of Enterprise is returning money to the executive as its main agency Invest NI cannot spend it.Invest NI\'s annual budget is about £185m.But it is understood that it has, so far this year, a surplus of £17.5m of unspent money which it is offering back to the Department of Finance.Both the Department of Enterprise and Invest NI declined to comment, but it is understood Invest NI is blaming falling business confidence.A departmental document cleared by the Enterprise Minister Arlene Foster said: \"Invest NI has identified reduced requirements of £17.5m.\"The reason for this is that market conditions have substantially changed for the worse since February last.\"Invest NI has detected a marked decline in business confidence among its client base which is attributed to a much more difficult set of market circumstances than originally assessed when putting forward its draft budget plans.\"As a result of this, many of the larger companies where Invest NI has significant financial commitments against agreed business plans, are proceeding to implement these at a much slower pace than had originally been anticipated.\" Money returnedOn top of the surplus, an additional £5m is being re-allocated from Invest NI\'s budget to Tourism Ireland for overseas marketing.Three million pounds is to be allocated to NITB for additional work on the area surrounding the Titanic Signature project.At different times throughout the year, government departments examine their own spending in what are called monitoring rounds when unspent money is returned to the Department of Finance and Personnel (DFP).A spokesperson from DFP said: \"Departments\' October monitoring round submissions are due with DFP by close of play today (Tuesday 4 October 2011.)\"The minister will bring his recommendations based on these returns to the executive in due course.\"All transactions related to October monitoring (including resources returned) will be published when the minister makes his statement to the assembly.\"DFP cannot release any information in relation to October Monitoring before the Assembly has been informed.\"

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today invest northern ireland set to return millions of pounds Arab Today, arab today invest northern ireland set to return millions of pounds

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today invest northern ireland set to return millions of pounds Arab Today, arab today invest northern ireland set to return millions of pounds

 



Arab Today, arab today
Arab Today, arab today Arab tradition glitters in Colombia

GMT 12:59 2017 Thursday ,19 October

Arab tradition glitters in Colombia
Arab Today, arab today Second US judge orders freeze

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Silent Republicans have their reasons

GMT 16:55 2017 Thursday ,19 October

Silent Republicans have their reasons
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Hussein Fahmy happy for honoring in festival

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 18:29 2017 Sunday ,03 September

Designer produced new set of ornaments

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 23:42 2017 Monday ,16 October

Better Marriages Make

GMT 06:52 2017 Monday ,16 October

Airbus CEO says won't cling to job

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 19:29 2017 Tuesday ,29 August

Yomna: decoration leaved positive effects
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday