The Executive has successfully secured a £400 million reserve claim from the Treasury to bolster public services and support government departments through the 2025/26 financial year. Following rigorous negotiations, the Treasury agreed to the funding under an arrangement that allows the Executive to repay the sum over a three-year period.

Finance Minister John O'Dowd explained that the flexibility of the deal is intended to protect essential services by spreading the financial burden.

He stated: "Following intense negotiations and recognition of the significant financial challenges faced by the Executive, the Treasury has agreed to provide a reserve claim of £400 million for 2025/26 which will be repaid over three years. "The Executive remains committed to safeguarding public services, and this approach will allow us to spread costs over a longer period, reducing pressure on those services."

Despite the influx of capital, the Minister warned that the funding does not entirely bridge the gap of the predicted overspend. He emphasised that work must continue to manage remaining financial pressures and reduce excess expenditure.

The £400 million will be divided between two primary departments based on their current forecast overspends:

• Department of Education - £214.6 million

• Department of Health - £185.4 million

Minister O'Dowd reiterated that the Executive is focused on reforming the delivery of public services and ensuring future funding models are sustainable.

"I am keen to ensure that the level of funding provided to the Executive meets the growing demand for public services here. I will continue to engage with the Treasury on the 3-year budget and a proper funding model for the Executive," the Minister concluded.