Department for the Economy seeks views on 2023/24 budget

Date published: 07 June 2023

The Department for the Economy (DfE) has opened a public consultation on the equality implications of its budget for 2023/24.

DfE 2023/24 budget consultation
DfE budget consultation

When comparing the Secretary of State’s budget to the Draft Budget 2022-25, DfE must deliver its services with £100million less and, in addition, fund pressures of £30million identified for 2023/24. Therefore, the Department’s overall Resource spending power is reduced by £130million, or 16%.

Managing a shortfall of this magnitude will undoubtedly impact the Department’s ability to deliver public services in 2023/24, including funding of further education and higher education, skills measures, and the activities of our arm’s-length bodies and agencies which deliver services and support for areas including economic development, tourism, creative and screen industries, consumer protection, workplace safety and resolving disputes at work.

Difficult decisions will be needed in order to live within the funding available. 

Through this Equality Impact Assessment (EqIA) we are seeking comment and feedback from the public on the decisions required and the impacts of those decisions. Responses to the consultation will inform our decision-making.

Budget allocations will be revisited where possible during the financial year. Funding may be reallocated to other priority areas depending on relative spend levels in each DfE business area. The EqIA and consultation responses will also be used to inform any such reallocations.

Details of the budget proposals and how to respond to the consultation are available on the DfE website.

The consultation will be open for a 12-week period, until 30 August 2023. Given the urgency around the need for decision-making, we particularly encourage responses within the initial four weeks of the consultation period, up to 5 July. Views received during this time will be used to inform the Department’s initial allocation of funds to its business areas and arm’s-length bodies, as well as any early mitigations that can be put in place.

Responses received between week five and week 12 (6 July to 30 August) of the consultation will be used to consider further mitigation measures, to inform in-year budget reallocation processes, and to direct any additional funding (or further reductions) that emerge over the course of the financial year.

Notes to editors: 

1. Resource spending is money that is spent on day-to-day resources and administration costs.

2. To keep up to date with news from the Department for the Economy you can follow us on the following social media channels:

Twitter – @Economy_NI

Facebook – @DeptEconomyNI

Instagram – economy_ni

LinkedInDepartment for the Economy NI 

3. For media enquiries contact the Department for the Economy Press Office at

4. The Executive Information Service operates an out of hours service for media enquiries only between 1800hrs and 0800hrs Monday to Friday and at weekends and public holidays. The duty press officer can be contacted on 028 9037 8110.

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