Plans to disburse money to projects through a ‘Social Investment Fund’ (SIF) require “careful scrutiny”, according to NI Conservatives’ spokesman, Mark Brotherston. Mark was responding to an announcement by the Office of the First and Deputy First Minister (OFMDFM) at Stormont that the first £33 million from the £80 million fund has been allocated, almost three years after SIF was originally unveiled.
“This announcement is certainly overdue and we welcome the fact that there is some progress after all this time”, Mark emphasised. “The plans deserve close scrutiny, because it is extremely important that OFMDFM maximises the potential for this money to provide lasting benefits. It is no good funding short-term projects and subsequently pulling the financial rug out from under them, which has happened in the past. Funding needs to be based on a project’s potential to change communities in a sustainable way.”
“That’s an approach which we believe needs to inform the executive’s approach to funding, more widely. It’s important too when it comes to dispersing funds from the European Union, which is something we’ll be emphasising over the coming months. The executive always has a responsibility to prove it is spending taxpayers’ money wisely, even more so at a time when we know failure to pass welfare reform is costing £200 million per year.”