David Trimble: "Review of rating policy"

Mr Trimble was responding to fears that rates will eventually double in the wake of the economic package announced last week by Chancellor Gordon Brown.

Last week, 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.

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.

Our political life is about hard choices, choices which the public look to us to make

Mark Durkan Deputy first minister

Mr Trimble said the outcome of a major review of the rating system could lead to some people having to pay more.

"The executive has made it very clear already that it will not be proposing increases above the pattern of recent years unless the present rating system has been reviewed," he said.

"Any changes that will arise from the review of rating policy will need to be phased in over a number of years so we can avoid any sudden changes."

Deputy First Minister Mark Durkan told the assembly there would be no soft options in borrowing extra resources to tackle the infrastructure deficit.

"Our political life is about hard choices, choices which the public look to us to make.

"Our new initiative, however opens to us new ways of dealing with those very choices," he said.

Sean Farren: "Comprehensive review"

"We believe this initiative should help provide a very welcome boost for our economy and improved services for our community for this and for future generations."

Last week, Environment Minister Sean Farren said a public consultation was about to begin to examine the rates issue.

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