Charles Flanagan (Laois-Offaly, Fine Gael) | Oireachtas source

The Deputy will be aware that the Agreement also provides for the Northern Ireland Executive to consider whether devolution of other fiscal powers, including the aggregates levy, stamp duty and the landfill tax, would result in a clear economic or social benefit for Northern Ireland.

The recently published Stormont House implementation progress report notes that the options have been prepared to enable the finance Minister in Northern Ireland to bring a paper on the matter to the Executive. In this regard, the Deputy will be aware that these are primarily strand one issues. It is clear Northern Ireland faces a most challenging budgetary situation. However, regardless of the contents of the UK budget which was published last week, the immediate task remains to find workable solutions to the immediate challenges under the constraints which currently apply and I beg the assistance of the Deputy's party at leadership level in this regard.

It is important we have stability, sustainable finance and effective power sharing in Belfast. This is an important backdrop to any serious concerted approach over the coming years to address what is a most challenging budgetary situation within Northern Ireland. I stress, as I have already done so in this House, that I recognise the special and unique status of Northern Ireland in the context of its being a society emerging from conflict. If we are to move forward towards repairing the divisions of the past and building a prosperous future for all the people on this island, the matters of finances, budget and economic development are crucial to achieving that pursuit.

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