Stormont (NI) could raise £3bn annually via water charges, rates increase

AI Summary

A Treasury review suggests that if Stormont increases rates and introduces water charges, it could raise £3bn a year for public services. This includes raising domestic rates to match council tax in England, potentially generating over £400m annually. Additionally, implementing water charges of around £465 per household could yield an extra £357m. The review indicates that cutting the civil service size to the level in England could save almost £400m per year. These measures come in response to overspending of £400m by Stormont last year.