Conor Murphy, MLA, deputy First Minister Michelle O'Neill and President of Sinn Fein, Mary Lou McDonald with party colleagues are pictured as politicians in Northern Ireland returned to the Stormont Assembly after backing a deal to restore devolution in Belfast, Northern Ireland January 11, 2020. REUTERS/Damien Eagers

(Reuters) - The British government said on Wednesday it will provide £2 billion to support the newly restored Northern Ireland government.

“The UK Government will provide a £2 billion injection of financial support to the new Northern Ireland Executive which will end the nurses’ pay dispute, transform public services, turbocharge infrastructure investment and address Northern Ireland’s unique circumstances,” it said in a statement.

It added that a new executive joint board will be established to oversee implementation.

Northern Ireland’s Finance Minister Conor Murphy called the proposed financial package “woefully inadequate” in a statement.

“As Finance Minister I cannot and will not accept this and will be taking this up with the British Government,” Murphy said.