Debate contribution: National Wealth Fund
Debate contribution by Mr John O'Dowd on .
- MLA
- Mr John O'Dowd
- Party at the time
- Sinn Féin
- Date
- 12 October 2026
- Type
- Debate contribution (made as a minister)
- Business
- Oral Answers to Questions
- Heading
- National Wealth Fund
- Assembly identifier
- Official Report component 5786063
Read the official Assembly record
Text
The issue has been raised on a number of occasions with the British Government as part of wider discussions on the Executive's Budget and funding arrangements. I have been clear that we must have fair and equal access to the fund and that we should not be disadvantaged simply because our governance structures are different. In England, many functions that benefit from National Wealth Fund investments are delivered by local authorities or privatised companies. Here, equivalent responsibilities, including infrastructure, economic development, strategic transport, regeneration, housing investment and energy policy are largely delivered by Executive Departments and arm’s-length bodies. Treasury officials have indicated that borrowing from the fund by those bodies would count against the Executive’s reinvestment and reform initiative (RRI) borrowing limits. That would create an unequal outcome, requiring us to use scarce borrowing capacity for functions that, elsewhere, may sit outside central government control. The principle is straightforward: access should be determined by the merits, value and viability of an investment opportunity, not by differences in administrative structures. If all Administrations are to have equal access to the National Wealth Fund, its arrangements must be flexible enough to reflect our differing constitutional and delivery models. The absence of English-style local authorities must not become a barrier to investment in projects that support growth, infrastructure and regeneration. I will continue to press the Government to ensure that the Executive can benefit from the National Wealth Fund on a fair and equitable basis.
242 words. Text as published by the Northern Ireland Assembly.
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