This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.

You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/northern_ireland/6108212.stm

The article has changed 6 times. There is an RSS feed of changes available.

Version 0 Version 1
Funding package 'needs more work' Funding package 'needs more work'
(about 2 hours later)
Northern Ireland's political parties have said more work must to be done to finalise the so-called peace dividend.Northern Ireland's political parties have said more work must to be done to finalise the so-called peace dividend.
Chancellor Gordon Brown has announced a £50bn spending package linked to the establishment of a Stormont executive.Chancellor Gordon Brown has announced a £50bn spending package linked to the establishment of a Stormont executive.
However, the parties are disappointed the chancellor has not offered to cut Corporation Tax. However, the parties are disappointed the chancellor has not offered to cut corporation tax.
The DUP called the funding an "opening offer" which was no more than £3bn of new money. Sinn Fein leader Gerry Adams said it was still early days. The DUP called the funding an "opening offer" which was no more than £3bn of new money, while Sinn Fein leader Gerry Adams said it was still early days.
The parties want the Corporation Tax reduced from 30% to match the Irish Republic's rate of 12.5%. The parties want corporation tax reduced from 30% to match the Irish Republic's rate of 12.5%.
Mr Adams said the chancellor had indicated he was prepared to talk further on the subject of corporation tax. 'Extraordinary settlement'
However, according to Northern Ireland Secretary Peter Hain, the package on offer represents an "extraordinary settlement".
One economist said the new money could be as little as £2.5bn, but Mr Hain said even this sum would be generous.
"If it were only £2.5bn, people ought to be grabbing it before the chancellor has a chance to close his red box," Mr Hain told the BBC's Good Morning Ulster on Thursday.
"No other part of the United Kingdom, including Wales which I also represent as its secretary of state, has got anything like this package."
Mr Brown, who announced the package after Wednesday's talks with Northern Ireland's political parties, said the funding would be worth £50,000 per household in Northern Ireland.
The general consensus afterwards among the politicians was that more work needed to be done to finalise the so-called peace dividend.
It is necessary to get this package to a state where it is acceptable Peter RobinsonDUP deputy leader Mr Adams said the chancellor had indicated he was prepared to talk further on the subject of corporation tax.
Mr Adams said: "We have to come at this positively.Mr Adams said: "We have to come at this positively.
"The British chancellor has come up with a whole series of measures. We have to look at the detail of it.""The British chancellor has come up with a whole series of measures. We have to look at the detail of it."
Chancellor Gordon Brown was asked for extra money
DUP deputy leader Peter Robinson said: "The chancellor has to start from some point - we might have hoped he could start from a slightly higher point than he did.DUP deputy leader Peter Robinson said: "The chancellor has to start from some point - we might have hoped he could start from a slightly higher point than he did.
"It is necessary to get this package to a state where it is acceptable.""It is necessary to get this package to a state where it is acceptable."
Ulster Unionist leader Sir Reg Empey said that they were "disappointed" by the response on corporation tax.Ulster Unionist leader Sir Reg Empey said that they were "disappointed" by the response on corporation tax.
But he added: "I don't think this marks the end of it. We have to use this as the commencement of a process."But he added: "I don't think this marks the end of it. We have to use this as the commencement of a process."
The SDLP's Mark Durkan said the detail of the package still needed to be studied. The cash offer is linked to the return of devolutionThe SDLP's Mark Durkan said the detail of the package still needed to be studied.
Mr Brown said he was still considering party's views on this, but there was much in the package to attract inward investment and stimulate the economy.Mr Brown said he was still considering party's views on this, but there was much in the package to attract inward investment and stimulate the economy.
BBC Northern Ireland business correspondent Yvette Shapiro said the parties would want to establish how much of the promised £50bn was actually new money.BBC Northern Ireland business correspondent Yvette Shapiro said the parties would want to establish how much of the promised £50bn was actually new money.
"As far as they are all concerned the much anticipated financial package is not a done deal," she said."As far as they are all concerned the much anticipated financial package is not a done deal," she said.
Mr Brown, who announced the package after talks with Northern Ireland's political parties, said the funding would be worth £50,000 per household in Northern Ireland.