Ulster Unionist Finance Spokesperson Dr Steve Aiken OBE MLA has welcomed the Secretary of State's willingness to negotiate on Northern Ireland's budget settlement, but warned that any increase in resource must be matched by serious reform of how public money is spent.

Speaking after the Ulster Unionist Party’s meeting with the Secretary of State, and following the Chancellor's comments on his economic priorities, Dr Steve Aiken said:

“Today, along with other political parties, the Ulster Unionist Party  met with the Secretary of State. The issue of a settlement to our budget challenges is now up for negotiation – and, having been involved in many of these before, it is good to see that the SoS is up for dialogue. While we won't be joining in the breaking of confidences, it is also clear that the gap between what was offered and what is needed is considerable. However, with negotiation, and with NI Executive parties committing themselves to reforming how we do business, there is a possible pathway to agreement on a multi-year budget.

“What is also clear is that we can't continue doing 'business as usual'. As every report from the likes of the Fiscal Council and the Audit Office shows, we are abysmal at public procurement and the delivery of capital projects. We also have a public sector that is top-heavy and in urgent need of reform. Linking budget increases to the appropriate level of need – one that matches Scotland and Wales – will require stringent safeguards, responsibility and, above all, accountability for the expenditure of public monies.

“The Ulster Unionist Party will be pushing hard for added resource; however, we will do that at the same time as we push for reform and show that, with the taxpayers' money we use, we are delivering value for money.

“Meanwhile, Chancellor Healey has been talking about his priorities, saying: 'My defining mission as Chancellor is growth, good growth in every postcode.' That includes Northern Ireland – with investment needed from the Business Bank and the National Wealth Fund to build on our very successful innovation, tech and manufacturing sectors.

“We fully agree that growth is the way ahead for our nation. Investing in our dynamic business sector, whilst looking towards investment in strategic infrastructure that is on time and on budget, needs to be a fundamental part of our journey of transformation – one that will turn Northern Ireland from an area of great potential into a great engine of growth.”