UK Offers £2.5 Billion NI Funding Deal to Restore Devolution
• UK government offers £2.5bn financial package for NI, dependent on return of devolution • Includes lump sum for public sector pay claims, new "needs-based" funding formula, and allowing overspends to be repaid over 5 years • NI would need to commit to raising rates by 15%, publish revenue plan, and establish Public Services Transformation Board • Guaranteed spending per person would be £124 for every £100 spent per person in England • Party leaders say package doesn't go far enough to fund public services; DUP says it falls short of what's required