Consultants hired to assist with the planned flotation of the merged ACC and TSB banks and with the sale of the ICC will cost the Department of Finance £21 million next year, the Budget Estimates said. This represents an increase of £20 million over fees paid to consultants this year.
The merger of ACC and TSB is expected to take place early next year, while the Department is discussing the sale of ICC to Bank of Ireland.
The Budget Estimates also include the provision of £20 million to the Department of Finance to fund the establishment of cross-Border bodies planned under the Belfast Agreement. This money is already held by the Department, pending implementation of the agreement.
The Department of Finance Estimates also provide £8 million to fund INTERREG regional development schemes under the EU's Agenda 2000 programme, which aids Objective 1 areas in the west and south and in the Border regions.