This might hurt a little bit.

Monday 24 May 10

Northern Ireland ministers are bracing themselves for the impact of £6bn budget cuts across the UK as the new UK coalition government is set to announce a tight squeeze on public finances.

NI first and deputy first ministers are preparing to work out what Treasury cuts will mean locally. Peter Robinson and Martin McGuinness are due to meet the leaders of the Scottish parliament and the Welsh assembly at Stormont later.

But Mr McGuinness denied this was an attempt by Belfast, Edinburgh and Cardiff to "gang up" on the new London coalition.

"Some people might like to portray it as such but that is not the way we see it," he said. "Our approach is to be very positive and constructive as we go forward. "It just makes sense that Scotland, Wales and the north work together and do it in a positive and constructive fashion."

On Sunday, deputy prime minister Nick Clegg warned that the cuts would be "painful and controversial". But he said that the squeeze was necessary to "bring sense" to public finances. The NI, Scottish and Welsh assemblies have been given the option of delaying budget cuts until next year.

During the election, the DUP estimated the local cost of the emergency budget as £200m - but last week, Finance Minister Sammy Wilson reduced that estimate to £120m to £150m. Mr Robinson and Mr McGuinness will meet the Scottish First Minister Alex Salmond and the Welsh First Minister Carwyn Jones to consider their financial options.

All three devolved administrations are expected to push for more cash to match some of the regeneration money being spent in London for the 2012 Olympics.

Source: BBC Northern Ireland