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Northern Ireland will receive an extra 拢400m of infrastructure investment, as part of the Democratic Unionist Party鈥檚 (DUP) agreement to prop up the Tories鈥� minority government in Westminster.

This includes funding for the 拢150m York Street Interchange, a project identified by the Belfast-based Construction Employers Federation (CEF) as a likely DUP bargaining chip.

The scheme will relieve a bottleneck at the intersection of the M1, M2 and M3 roads, and was the one major project in Northern Ireland鈥檚 infrastructure pipeline not covered by the existing budget.

On top of the infrastructure spend, the Tories have promised another 拢150m for ultra-fast broadband.

The total package is worth 拢1bn to the Northern Ireland Executive over the next two years, with health and education also benefitting.

CEF managing director John Armstrong said: 鈥淚nfrastructure spending has significant direct and in-direct economic benefits, and it is critical that it is directed towards projects which have the highest economic yield. The focus therefore on the York Street Interchange Project, as well as other major schemes, is one we welcome.

鈥淚t is welcome too that the UK government has agreed this financial package for the Northern Ireland Executive to be spent flexibly.

鈥淒espite the best intentions, infrastructure delivery can often be subject to unforeseen challenges and delays and it is important that the additional financial support announced today takes cognisance of this.

鈥淚t is now absolutely critical that a Northern Ireland Executive is formed by Thursday鈥檚 deadline.鈥�