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We will always support a market led approach; but we will not be afraid to intervene where there is evidence of market failure.

Last week at the Foreign Affairs Council (Defence), the Defence Secretary called on European partners to do more and increase their defence spending to the NATO 2% commitment, meaning they are better positioned to tackle the new and emerging threats to European security.

How this increase in funding will be allocated will be decided by Northern Ireland Ministers, and will be set out by the Finance Minister when he presents his budget to the Northern Ireland Assembly next month.

The weather will continue to improve this week, but people should avoid walking near swollen rivers and should not risk driving or walking through flood water. Strong winds and large waves will also ease around the coast today, but people should take care when walking by the sea. Information about flood warnings and alerts is updated every 15 minutes on GOV.UK and people can check their postcodes and sign up to receive free flood warnings.

I can confirm that, despite the fiscal pressures, we will meet our commitments to protect the budgets of key public services and defence;