The executive will hold further talks with the secretary of state on Friday to discuss the government's offer of money to resolve Stormont's budget deadlock.

On Monday, Sir Chris Bryant visited Stormont and made an initial offer of £350m per year over the next three years to help stabilise the executive's finances.

But executive parties said that did not go far enough and suggested that the government would need to increase its contribution in order for Stormont to balance its books this year.

It is understood the discussions on Friday morning will take place virtually.

The executive has repeatedly said it cannot agree a budget for this financial year without extra support from Westminster.

Following the passing of a deadline in August, Stormont officials were given legal powers to spend up to 95% of last year's funding in the absence of ministers agreeing the budget.

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Last week, Prime Minister Andy Burnham pledged to get the Stormont government functioning properly with a budget.

No formal deadline has been set in the talks with Westminster, but Number 10 is due to publish its budget on 28 October so there is an expectation from some Stormont sources that any financial settlement should be agreed before then.

Speaking after meeting the secretary of state on Monday, First Minister Michelle O'Neill said the executive was now in a "negotiation" with the government.

"We get to this juncture time after time, crisis point after crisis point - they need to fix the baseline.

"If they throw a few pounds on the table and walk away we'll end up back in this scenario."

DUP leader Gavin Robinson said the initial offer from the government "falls well short of even some of the pressures in one department, let alone across the Northern Ireland Executive".

"Anybody who says we just need to get on and agree this can explain the cuts that will come as a consequence," he added.

Alliance has said any agreement on a financial package should be tied to commitments to reform the Stormont institutions.

Its leader Naomi Long said it was important to have those conversations in parallel, ahead of the next assembly election in May 2027.

Ulster Unionist leader Jon Burrows said there was "going to have to be a meeting of minds between His Majesty's government and the political parties" on any financial arrangement.

"We certainly accept the premise that we need to come to this with credibility ....so we don't keep asking for more."

The SDLP - Stormont's official opposition - said the executive could not shirk its responsibility to agree a budget.

Its leader Claire Hanna also met the secretary of state on Monday to press the case for reforming the executive and assembly.

"We don't need months and months of negotiation in a stately home, everybody knows what needs to be done," she said.

"If they're not done we're going to be right back here and if we fail to put these mechanisms in place ahead of the next election we're facing into more lost years."

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