Northern Ireland Finance Minister John O’Dowd welcomed an additional £390 million in funding for the Executive over the next three years, announced in the Spring Forecast statement.

O’Dowd made the comments after delivering an oral statement to the Assembly. He noted that severe pressures persist on the Executive’s finances despite the new allocation.

The minister pointed to increased demand for public services alongside higher costs to provide them.

O’Dowd stated he is pressing the British Government to restore the stabilisation fund to support public services and enable their transformation.

He emphasised the need to establish a multi-year budget. The related consultation closed on the day of his statement, with more than 300 responses submitted by lunchtime.

O’Dowd plans to collaborate with other ministers to advance the multi-year budget for investments benefiting workers, families and businesses.