Chancellor Jeremy Hunt has announced an additional £100m in funding for Northern Ireland as part of the Budget.

Speaking in the House of Commons, Mr. Hunt said: "As a result of the decisions we take today, the Scottish Government will receive nearly £300 million in Barnett consequentials, with nearly £170 million for the Welsh Government and £100 million for the Northern Ireland Executive.”

As expected, Mr. Hunt announced a cut in national insurance from 10 per cent to eight per cent.

The national insurance cut from April will be worth an average of £450 for workers and £350 for the self-employed.

When combined with a previous reduction which came into effect in January it will be worth £900 for 27 million workers and £650 for two million self-employed.

Mr Hunt said: “That means the average earner in the UK now has the lowest effective personal tax rate since 1975, and one that is lower than in America, France, Germany or any G7 country.”