Stormont ministers must ensure balanced budget is delivered, says Hilary Benn

The transcript discusses a significant financial settlement for Northern Ireland, which includes a balanced budget and revenue-raising measures. It highlights the Executive's responsibility to prioritize spending and address financial challenges. Additionally, it covers reforms to inheritance tax, particularly affecting farming estates, with reduced rates and extended payment terms.

What is one of the conditions attached to the financial settlement for Northern Ireland?

• Increasing public service salaries

• Increasing the number of public holidays

• Producing a balanced budget

• Reducing the number of public holidays

What is the role of the Executive in managing the additional funds received?

• To reduce public services

• To increase taxes

• To decide on spending priorities

• To invest in foreign markets

What percentage of additional funding commitment does Northern Ireland receive?

• 130%

• 124%

• 110%

• 100%

What is the reduced inheritance tax rate for estates over £1,000,000?

• 10%

• 20%

• 30%

• 40%

How long do people have to pay off the reduced inheritance tax?

• 15 years

• 10 years

• 5 years

• 20 years