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Northern Ireland Finance Minister Sammy Wilson has not only protected health care spending but provided an additional £326 Million in the draft budget presented to the Assembly yesterday.

Mr. Wilson laid out a budget which aims to save £4 Billion in the next four years - out of which a quarter or £1 Billion would come from new revenues while the rest of the savings would be delivered through spending cuts.

The Department of Education is the biggest loser in Mr. Wilson's budget as its funding was slashed by £67 Million, however, the finance minister provided additional funds towards job creation as well as tackling social needs.

“It has been a daunting task to deliver this draft budget,” Wilson said.

“Current expenditure resources from the treasury will decline by 8 percent in real terms while capital investment resources allocated to us will decline by some 40 percent over the next review period.”

In order to meet the target of raising £1 Billion through additional revenues, the Northern Ireland Executive would sell public owned assets which it believes would bring in £540 Million. The regional rate, would also be increased according to the inflation rates, and the Executive would introduce a 15p levy on plastic bags.

Not surprisingly, the Stormont Executive has decided to freeze pay and recruitment in the public sector. Anyone earning £21,000 or more in the public sector would see their pay levels frozen for the next two years.

"I believe this is the day that the executive came of age," the finance minister told the Assembly. "We have proved that we can take difficult decisions, we have proved that we can reach agreement and we have proved that we can work together for the benefit of the people of Northern Ireland."

Business leaders have welcomed the draft budget but the public sector unions are angry with the finance minister's announcements.

"The ministers are demonstrating the leadership we need and by setting a four-year budget are creating greater confidence for both local and inward investors," said Joanne Stuart, Chair of the IoD in Northern Ireland.

She welcomed the Green New Deal as well as the investments to help unemployed people get the skills to get back to work.

On the other hand, Northern Ireland Public Service Alliance (Nipsa), argues the Executive has not done "the best for the public and its public service employees."

The budget is expected to be ratified by the Northern Ireland Assembly next week.