Some £400 million of new money has been guaranteed by the UK Government for Northern Ireland.

As part of the Northern Ireland Protocol, the Government committed to helping boost economic growth, increasing Northern Ireland’s competitiveness and investing in infrastructure.

The substantial financial package is aimed at supporting businesses to operate after the transition period, while also ensuring that Northern Ireland is ready to seize the trade and investment opportunities ahead, the Northern Ireland Office said.

Fostering economic growth and social cohesion is key to building a stable and prosperous future for Northern Ireland

Northern Ireland Secretary Brandon Lewis said: “The new deal is wonderful news for Northern Ireland and underlines the UK Government’s commitment to supporting and protecting the interests of the people and businesses in Northern Ireland.

“Fostering economic growth and social cohesion is key to building a stable and prosperous future for Northern Ireland and this additional £400 million will support Northern Ireland after the end of the transition period, enabling NI businesses and its people to innovate and invest.”