A multi-year draft budget published by Finance Minister John O’Dowd includes a funding allocation to maintain farm payments over the next three years.

Back in December 2024, NI became the only part of the UK to set out an earmarked budget for agriculture, with £332.5m set aside in the 2025 – 2026 financial year to cover payments to both farmers and the fishing industry.

That £332.5m total was the same allocated to DAERA by the UK Treasury in the previous year.

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Going forward, the earmarked allocation of £332.5m has been included by Minister O’Dowd for the next three years out to 2028-2029 and if approved, it would give added certainty around farm support. In recent years Stormont has worked with an annual budget process.

Over the next three years, the total planned spend across all government departments will be up 1.8%. DAERA sits slightly below the average at 1.7%. The biggest rise is a 2.3% increase in education funding.

In a written statement, Minister O’Dowd said he recognised the pressure on funding across departments, but that it was simply not possible to provide any department with the funding it had requested.

“Any increase in one area will inevitably mean a reduction in another,” he added.

His plan has been criticised by other political parties, with the DUP pointing out it has not been agreed by the Stormont Executive and suggesting significant changes will be required.

A consultation on the draft budget runs to Tuesday 3 March.