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UK's financial offer for Northern Ireland 'falls way short', says Stormont finance minister

The UK government is told to "ante up" after the PM visits Belfast to hail a new power-sharing deal after years of deadlock.

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The UK government's financial offer as part of a deal to restore devolution to Northern Ireland "falls way short of what was expected", Stormont's finance minister has said.

Conor Murphy claimed there was "much more work to be done" on agreeing a financial package to shore up a new power-sharing deal following three years of political deadlock in Northern Ireland.

The Sinn Fein politician, who was appointed finance minister as part of the restored Northern Ireland Executive, called on the UK government to "ante up" following a meeting between Northern Ireland parties and UK cabinet minister Julian Smith, the Northern Ireland secretary.

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Devolution formally restored as power-sharing resumes at Stormont

He spoke out following Boris Johnson's visit to Belfast on Monday, during which the UK prime minister hailed the "wonderful compromise" that has seen the return of devolution to Stormont.

Mr Murphy said: "We got figures verbally from the secretary of state, obviously we are going to have to go off and the Department of Finance will analyse those figures and see exactly what they mean in terms of a financial commitment.

"I have to say my initial take on this is it falls way short of what was expected.

"And in that sense there is much more work to be done to try and secure a financial package which accurately reflects the commitments given by the British government as part of this document that they produced that they told us to take or leave.

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"They need to ante up.

"It's all very well for Boris Johnson to come over here and tell us we have all done very well and leave again. They need to honour their commitment that they gave as part of this agreement.

"The political part of it has been delivered by the five parties in the executive, the financial part has to be delivered by the government."

Northern Ireland's First Minister Arlene Foster and Deputy First Minister Michelle O'Neill also stressed the importance of funding following meetings with Mr Johnson and Ireland's Prime Minister Leo Varadkar.

Mrs Foster said: "We need significant and sustained investment, not just this year but over a number of years.

"This is crucial in ensuring transformation in areas such as health and also our road and water infrastructures."

And Ms O'Neill added: "Quite simply, we need the money to make it happen.

"We have done our bit and I look forward to the fulfilment of the commitments made by the two Governments to let us get to work."

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DUP: This is a fair and balanced deal

Earlier, Mr Johnson claimed Stormont was "open for business again" as he praised politicians from all sides in Northern Ireland, saying they had "put aside their differences, stepped up to the plate and showed leadership".

"I just want to say how grateful I am to all the parties, to everybody here in Northern Ireland, for the way they have compromised the way they have worked together to get Stormont up and running once again," he said.

"It's shown a willingness to trust each other and to set aside differences and I think it's absolutely commendable and wonderful to see."

Mr Johnson added: "Never mind the hand of history on my shoulder... I see the hand of the future beckoning us all forward.

"And I hope that with goodwill and compromise and hard work on all sides it will be a very bright future indeed."

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Sinn Fein backs NI power-sharing deal

The British government made a number of financial promises to get the "New Decade, New Approach" agreement over the line.

Mr Smith promised major investment to tackle problems in Northern Ireland's struggling public services, but declined to confirm the sums involved until devolution was restored.

Ministers at Stormont are now keen to nail down precise figures.

There are reports the government could announce a £2bn package, but a Downing Street source has described this figure as "just speculation".

And Mr Johnson himself did not answer when asked by journalists about the £2bn figure.

Additionally, the Irish government made financial pledges within the agreement to honour commitments to part-fund some north/south projects, such as the A5 dual carriageway and a redevelopment of the Ulster canal system.

The previous DUP/Sinn Fein power-sharing executive in Northern Ireland collapsed in acrimony in January 2017.

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The cause was a row about a botched green energy scheme, a dispute that later widened to include more traditional wrangles on issues like the Irish language and the legacy of the Troubles.

Mr Johnson said in his news conference that there could be "no repetition" of the scandal.

"It is vital that public spending in Northern Ireland is properly invigilated and there is no repetition of that kind of thing," he said.

The prime minister added that the new agreement contained provision for "proper responsibility for the use of public funds".