Communiqué from the Finance: Interministerial Standing Committee - 19 March 2026
Published 24 March 2026
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Finance: Interministerial Standing Committee (F:ISC)
19 March 2026
Clare House, Belfast
The Minister of Finance (Northern Ireland Executive), John O’Dowd MLA chaired a meeting of the Finance: Interministerial Standing Committee (F:ISC) on 19 March 2026 in Clare House, Belfast.
The meeting was attended by the Rt Hon James Murray MP, Chief Secretary to the Treasury (UK Government), Cabinet Secretary for Finance and Local Government (Scottish Government), Shona Robison MSP, and the Rt Hon Mark Drakeford MS, Cabinet Secretary for Finance and Welsh Language (Welsh Government).
Ministers discussed the latest economic outlook and reflected on the Spring Statement within the context of the respective devolved governments priorities.
Ministers held a substantive discussion on improving the operation of the Barnett formula and considered proposals to strengthen the system for all governments by enhancing transparency and consistency.
Ministers held discussions on several shared priorities including Public Financial Institutions (PuFins), the use of Financial Assistance Powers under the UK Internal Market Act and the fiscal flexibilities available to devolved governments.
The next meeting is planned for June 2026 to be held in Wales.