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Minister Cuts Northern Ireland MLA Pay As Election Pushed To March

UK

Secretary of State for Northern Ireland Chris Heaton-Harris has written to members of the Northern Ireland assembly (MLAs) informing them that from 1 Jan 2023, their pay will be reduced by 27.5% to account for the devolved legislature's inability to form a power-sharing executive.

  • The lack of a devolved gov't in Stormont remains an impediment to the EU and UK reaching a deal on the contentious Northern Ireland protocol, which in turn risks the entire post-Brexit UK-EU FTA, the Trade and Cooperation Agreement.
  • Comes a day after Heaton-Harris laid a statutory instrument in the House of Commons pushing the snap election to the Northern Ireland assembly to March 2023, with the potential for a further pushback to April.
  • Rhetoric between EU and UK has been better in recent weeks than it has been for some time previously, and so a contentious Northern Ireland election is low down the list of events Westminster or Brussels want at present.
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Homepagemarkets-real-timePolitical Market NewsPolitical RiskPolitical Risk BulletBank Of England (BOE) Market NewsBulletUKMarketsFixed Income BulletsForeign Exchange Bullets

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