Northern Ireland’s deputy first minister Emma Little-Pengelly says the executive cannot legally agree a balanced budget under the funding currently on offer from the UK government.

The executive has yet to agree a budget for this financial year. It blames the UK’s devolution funding formula for a shortfall, while Secretary of State Sir Chris Bryant has said no further money is available and accused ministers of financial irresponsibility.

Little-Pengelly said the executive expects to meet Bryant on Friday to press for a fairer settlement. An offer of about £1.5bn in additional funding would be paid in three instalments, including £525m this year.

She warned that leaving the budget unresolved would put further pressure on schools, hospitals, public sector pay and other services.