Stormont close to agreeing Northern Ireland's budget

Northern Ireland's power-sharing government is on the verge of finally securing its budget, it emerged today. Among the measures being introduced by the finance minister, Sammy Wilson, will be a freeze over the next year on civil service pay for those earning more than £21,000. Wilson's department of finance will also propose selling off public assets such as Belfast port, which would net the Stormont government about £125m. It is understood there will be an increase in Northern Ireland's regional rates and a new tax on plastic bags, which Wilson hopes will bring in £16m. The NHS's budget in Northern Ireland unlike the Westminster budget, will not be ring-fenced and the local health service will be subjected to an external cost-cutting audit. Negotiations are continuing today between the five parties in the government, which must deliver about £4bn of cuts. Stormont is the only one of the UK's regional assemblies yet to set its own budget. If one is agreed this week it would be a significant milestone in terms of co-operation between unionists and nationalists, and in particular the relationship between Sinn Féin and the Democratic Unionist Party. All parties will face the electorate next May both in assembly and local government elections.