Gordon Brown commits another £1bn of funding to the Northern Ireland Executive after the resumption of power sharing

The historic power sharing agreement between Sinn Fein and the Democratic Unionist Party could result in 5000 new construction jobs in Northern Ireland.

The Treasury yesterday announced that an additional £1bn will be committed to Northern Ireland over the next four years, in addition to the £50bn pledged last November for the Northern Ireland executive.

Some of the funding will go towards creating a local employment partnership that will see construction firms creating up to 5000 jobs for the unemployed.

A local employment partnership has already been created in the retail sector which will see leading retailers working with the Employment Service in Northern Ireland to create jobs to create 5000 jobs.

Funding for Northern Ireland will see investment in infrastructure and a major new roads programme.

The secretary of State for Northern Ireland, Peter Hain said: “Alongside the execellent progress being made by the Northern Ireland parties to secure continued peace and political stability, today's announcement secures a stronger brighter economic future for the people of Northern Ireland."