The Secretary of State for Northern Ireland has offered the Northern Ireland Executive £1.25bn over three years with a further £150m for transformation of public services and £100m for social housing.

Sir Chris Bryant confirmed the details after discussions with the parties in the Executive and the Chief Secretary to the Treasury. Parties have been urged to accept the support and agree a budget to end the uncertainty that surrounds public services in Northern Ireland.

The package includes £1.25bn extra funding for the Executive over three years; £150m for transformation of public services; £100m for social housing; and £75m to address fraud and error in the benefit system.

Secretary of State for Northern Ireland Sir Chris Bryant said: "I cannot emphasise enough how tight the financial situation is and the pressure on the public finances.

“It represents more than £1.5bn extra funding at a time when nearly all other government departments are being required to make significant savings.

“It gives the Executive the chance to manage its immediate pressures, and move towards a more sustainable footing. Not just this, it supports them in delivering much-needed transformation of public services, and to invest in social housing. 

“I am urging the Party Leaders and the Executive to get around the table and work out with us how we can put together a balanced budget as a matter of urgency based on these figures.

“I am keen to get a resolution to this as soon as possible as it has already gone on far too long. People in Northern Ireland are being left in limbo, and the consistent message I hear when I meet people from across society is that they want to see the stalemate over the budget ended.  

“But that requires the Executive to recognise the financial landscape across the UK , and do its bit, to find efficiencies and to raise additional revenue.”