Northern Ireland Secretary Sir Chris Bryant has told Stormont party leaders there will be no improvement on the current financial offer to assist with setting a budget.
The UK Government has made a financial offer slightly above £1.5 billion over the next three years in an effort to assist with balancing the budget.
Stormont departments have been operating without a budget since the beginning of the current financial year.
Ministers in the devolved powersharing Executive have insisted they cannot strike a budget for 2026/27 without additional financial support from Westminster.
Devolved departments are currently allowed to spend up to 95% of last year’s funding in the absence of ministers agreeing the budget.
The offer currently on the table has not changed since it was made in writing to the parties on September 10.
The Press Association understands that it includes £450 million resource funding in 2026/2027, then £400 million in the following two financial years.
It includes £50 million in funding in each of the three years for transformation of public services, which the Government wants the Northern Ireland Executive to match.
The offer also includes £50 million in capital funding for social housing in 2027/2028 and 2028/2029.
While the additional funding is not guaranteed beyond the three-year period, there is a commitment to consider baselining it as part of the spending review process.
The Executive would also be allowed to keep 50% of funds collected from additional fraud and error identified in the welfare system.
It is understood the offer comes with a series of conditions.
Part of the Secretary of State’s talks with local parties has also included Stormont reform, but that is being dealt with separately from budget discussions.
Sir Chris spoke to the party leaders about the offer on Thursday afternoon and told them there would not be further funding from the Treasury.
It is understood he hopes to get an outline response from them next week.
He said: “I cannot emphasise enough how tight the financial situation is and the pressure on the public finances.
“It represents more than £1.5 billion extra funding at a time when nearly all other government departments are being required to make significant savings.
“It gives the Executive the chance to manage its immediate pressures, and move towards a more sustainable footing.
“Not just this, it supports them in delivering much-needed transformation of public services, and to invest in social housing.
“I am urging the party leaders and the Executive to get around the table and work out with us how we can put together a balanced budget as a matter of urgency based on these figures.”
He added: “I am keen to get a resolution to this as soon as possible as it has already gone on far too long.
“People in Northern Ireland are being left in limbo, and the consistent message I hear when I meet people from across society is that they want to see the stalemate over the budget ended.
“But that requires the Executive to recognise the financial landscape across the UK , and do its bit, to find efficiencies and to raise additional revenue.”
