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The last two years have been unprecedented, and there was unprecedented support offered by Treasury to protect jobs and safeguard employers. We received this support only because Northern Ireland is part of the United Kingdom.

The Budget announced by the Chancellor is set against these difficult circumstances and we will take time to consider the full details.

Read my initial assessment below:

• The freeze on fuel duty is welcome, but with £100 for a tank of fuel, more ambitious action was needed. The Chancellor has also shied away from honest conversations about why domestic energy costs are spiralling.

• Announcements on wages and Universal Credit seek to reward people who are in work. The reduction in the taper rate will mean Universal Credit claimants will retain more of the payment and lower paid workers will benefit.

• Despite these positives, the cost of living means people in low and medium paid jobs face a bleak period.

• The measures announced are welcome, but questions remain. I want to hear from the Finance Minister locally whether he will apply the 50% rates discount here in Northern Ireland.
  
  

• Under the Protocol Northern Ireland tied to the EU's excise regime so it is not clear whether the announcements on alcohol excise duty will apply in Northern Ireland. This needs to be clarified.

• The government's levelling up agenda is to boost growth across the UK. The £49 million invested in projects across Northern Ireland (See the full list here) will deliver economic growth, jobs and better public services.
  
  

• £1.6 billion extra funding to the NI Executive represents a real increase of around 1.3%. That is very welcome, but represents only around one-third of the general increase in Government spending.
  
  

• Relatively speaking spending in Northern Ireland is going down compared to the rest of the United KIngdom.

• The DUP has been campaigning on the issue of Air Passenger Duty for some time and this reduction is welcome but we need to see this tax abolished on UK internal flights now. It punishes those who need to fly from one part of the UK to another.

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