I am pleased to announce that the Northern Ireland Discretionary Social Fund budget for 2007-08 will be £64.57 million; £13.62 million will be allocated to grants; £50.85 million to loans and £0.1 million will be held as a contingency reserve. The total gross budget is made up of Net Social Fund Provision from the Treasury of £20.99 million plus the amount of forecast loan recoveries for 2007-08, £43.58 million.

Details of the budget allocations together with a note explaining the basis on which they have been made, have been placed in the Libraries of the House.