Paisley, McGuinness: NI financial package 'not up to scratch'

A financial package for the North does "not come up to scratch" British Chancellor Gordon Brown was warned in talks today with the Rev Ian Paisley and Martin McGuinness.

The two, who will be sworn in as First Minister and Deputy First Minister at Stormont next Tuesday, voiced disappointment that a meeting with Mr Brown in Edinburgh failed to reach a resolution, although more talks are planned.

But Mr Brown claimed the total package tops £50bn (€73bn) over 10 years and that no other part of the country got the same kind of spending guarantees.

Rev Paisley said: "I regret and my delegation regrets that we didn't come to a full conclusion to our talks with the Chancellor of the Exchequer.

"These talks are going on and another meeting has been arranged and we hope at that meeting that we will come to a satisfactory conclusion - but we didn't get that satisfactory conclusion today."

Mr McGuinness said that the delegation had made a strong case to Mr Brown.

"What is presently on offer in terms of an economic package to reflect the momentous events politically over the last number of weeks doesn't come up to scratch. Ian Paisley and I are agreed on that.

"But we're going to continue with our work and Gordon Brown has indicated that he, I suppose, has not reached the end of the road on this matter. This is all work in progress and we're not giving up; we're going to continue to move forward.''

He added that the "legacy of under-funding" of infrastructure in areas like water and sewage were a particular problem.

Mr McGuinness also reflected on previous claims that devolved government would mean a "battle a day" between Sinn Féin and the DUP.

"There is a battle a day - but it's the DUP and Sinn Féin battling with the Treasury to ensure that we get a proper economic package for the people that we represent."

Mr Brown said afterwards that an investment conference will be held in Belfast in the autumn, particularly targeting US businesses, with a follow-up conference pencilled in for New York next spring.

The Chancellor also said that a construction initiative is being discussed to get people to work in the industry, with the possibility of that being extended to the hotel and hospitality industry.

Public investment in the country will include a previously announced 10-year programme of investment, Mr Brown added, as well as a four-year guaranteed settlement for public expenditure, with further announcements being made next week on assistance to the new Executive.

A special tax office is being set up in the North to give advice to businesses, and an innovation park will be established in a bid to attract high technology research and development firms.

"There is no other part of the UK where there is a 10-year guarantee of capital spending and there's no other area where we've given a four-year spending allocation," the Chancellor said.