Theresa May party struck a deal of 1 bn pound fund with N Ireland’s DUP

Vastavam web: British Prime Minister Theresa May’s Conservative party on Monday struck a power deal with Democratic Unionist Party (DUP) by agreeing to provide a 1.0 billion pound fund for the development of Northern Ireland in return for the support of the province’s biggest party.The two parties had been locked in talks since the June 8 general election threw up a hung Parliament and May entered Downing Street on the assumption that the DUP’s 10 MPs would be backing the Tories in Parliament to make up for a lack of overall majority in the House of Commons.

“We share many values in terms of wanting to see prosperity across the UK, the value of the union, the important bond between the different parts of the UK,” the British prime minister said.”We very much want to see that protected and enhanced and we also share the desire to ensure a strong government, able to put through its program and provide for issues like the Brexit negotiations, but also national security issues,” she said.According to the deal, there will be 1 billion pound extra fund for Northern Ireland over the next two years.

The funds were expected to be used to boost Northern Ireland’s economy and offer investment in new infrastructure, health and education.The DUP said the deal would apply for the lifetime of the Parliament, scheduled to last five years, but would also be reviewed at the end of the current session in two years time.”A confidence and supply agreement has been made between the Conservative & Unionist party and the Democratic Unionist party.This means the DUP will support the Conservative government on votes on the Queen’s Speech, the Budget, and legislation relating to Brexit and national security,” a Downing Street statement said.

“Our aim in these negotiations has been to deliver for all of the people of Northern Ireland and the support measures which we are announcing will be to the benefit of all our people. We welcome this financial support of one billion pounds in the next two years,” Foster said outside the Downing Street.She said the Tories had now recognised the case for higher funding in Northern Ireland and will publish details of financial support to be made available in due course.Both parties had agreed there will be no change to the pensions triple lock and the universal nature of the winter fuel payment across the UK, things May had planned to change in her election manifesto but later dropped.The support of the DUP will give the party an effective working majority of 13, as the other Northern Ireland party Sinn Fein do not take up their seven seats in Parliament and Speaker John Bercow and his three deputies two of whom are Labour MPs do not take part in votes.