The Prime Minister, David Cameron, said:

I am delighted that a workable agreement has been reached that can allow Northern Ireland to enjoy a brighter, more prosperous future, while at the same time finally being able to deal with its past.

It’s in no small part down to the tireless efforts of the Northern Ireland Secretary, Theresa Villiers and her team.

This agreement means the UK government has been able to offer a significant financial package that opens the way for more prosperity, stability and economic security for Northern Ireland. And it means the parties can now genuinely begin to overcome the key outstanding issues which have been unresolved since the Belfast Agreement.

This historic agreement has been long in the making and I would also like to pay tribute to all those involved – the Northern Ireland parties, the UK and Irish governments and Senator Hart – for getting us to this position. We will now all work collaboratively to see this through. The people of Northern Ireland deserve nothing less.