Two NI regional investment packages get the green light

Two regional investment packages in Northern Ireland which had been paused by the Labour government due to funding concerns, have been given the green light in the UK's budget.

The so-called City Deals for Causeway Coast and Mid South West will now proceed as planned.

They were been halted as the Labour government assessed whether it could afford to fund them amidst concern over the state of the UK's public finances inherited from the Tory administration.

But speaking in the Commons this afternoon, UK Chancellor Rachel Reeves confirmed they would proceed.

The investment packages are part-funded by Westminster with matching funding from Stormont.

Stormont's Finance Minister Caoimhe Archibald described it as "very welcome news".

There was a political row last month when it was announced that the two deals were being paused, pending the publication of the budget.

The Mid South West package comprises around £250m with half of it coming from London.

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The intention is to use government capital to leverage additional private investment into the area.

It is hoped to invest the money in skills, infrastructure and tourism projects.

The £72m Causeway Coast and Glend deal will develop education and innovation hubs as well as help with the regeneration of towns like Bushmills in Co Antrim and Dungiven in Co Derry.

There will also be work to develop a greenway along the north coast.

Stormont's First Minister Michelle O'Neill said the approval of the two city deals would secure more investment.

She said it would be a "game changer for communities, creating better jobs and delivering transformative projects in infrastructure, education and tourism".

Two other city deals covering Belfast and Derry had already secured their funding.

The total investment package across all four city deals is in the region of £1.5 billion.

£1.5 billion in extra funding

Northern Ireland will get an extra £1.5 billion pounds next year as a result of the Westminster budget.

Around £1.2 billion will be for day to day spending with £270m for infrastructure investment.

Chancellor Rachel Reeves said the extra cash would allow investment in schools, housing and social care.

Another £45.8m is going to PSNI and to Executive programmes to tackle paramilitarism and organised crime.

The Northern Ireland Office has also had its budget increased by £10m for next year to pay the costs of public inquiries into the 1998 Omagh bombing and the murder of Belfast solicitor Pat Finucane and other legacy matters.