State pledges €580m for North Executive package

THE Republic will contribute €580 million to a €1.47 billion financial package announced for the Northern Ireland Executive yesterday.

The package has been described as a “major boost for the entire island of Ireland” by Finance Minister Brian Cowen. The new package comes on top of €51bn (£35bn) already pledged to the Executive over the next four years.

British Chancellor Gordon Brown said the extra money will enable power-sharing ministers to tackle water charges and other infrastructural problems.