Sean Farren: "Current rating system is very unfair"

This may lead to a steep increase in Northern Ireland's rates.

Mr Farren said a comprehensive review of the rating system was being put in place.

"The current rating system is very unfair - particularly to ratepayers from low income backgrounds.

"We are engaging from this month in a public consultation on the rating system.

"That will look at all aspects of the rating system and whether there should be reliefs for certain groups, what kind of exemptions we should have and what should be the basis to the rating system."

'Under-funding'

On Thursday, Mr Brown said �200m would be available immediately. This could help speed up developments such as a new regional cancer centre.

A new strategic investment body will be set up to manage the resources and liaise with the private sector to achieve best value for public services.

Secretary of State John Reid has welcomed the announcement of the financial package for the executive.

Speaking during a visit to Londonderry on Friday, Dr Reid described the new funding as significant.

Meanwhile, Health Minister Bairbre de Brun has said she soon hopes to make an announcement on a new cancer centre for Northern Ireland.

Gordon Brown: Announced package

Ms de Brun said it was a welcome recognition of long-term under-funding.

"In terms of the cancer centre, any money or allocation from this for the cancer centre would be very welcome and I would hope to make an announcement on this shortly."

The Maze and Crumlin Road prisons, security bases at Ebrington and Magherafelt in County Londonderry and the Malone Road base in Belfast will be handed over free of charge to the executive to be redeveloped.

Programme

After the announcent of the financial package on Thursday, First Minister David Trimble said: "The people want good services fairly and efficiently administered and they look to the assembly to provide them."

All the people of Northern Ireland have suffered indirectly the effects of decades of under-investment

Tony Blair

Mr Blair told the audience in Belfast that there was much progress still to be made and many obstacles still to overcome.

He said so many people had suffered through the years of conflict and that all the people of Northern Ireland had suffered indirectly the effects of decades of under-investment.

The Irish Congress of Trade Unions has warned that the public investment plan unveiled by the Chancellor will mean higher costs to the ratepayer.

The union's spokesperson, Tom Gillen, said the money was not a gift.