A fresh round of talks to restore powersharing in Northern Ireland must find a solution in “weeks rather than months”, leaders have been warned.

Northern Ireland Secretary Karen Bradley and Irish foreign affairs minister Simon Coveney confirmed at Stormont that fresh negotiations will begin next Wednesday.

Mrs Bradley said there were still “significant difficulties to overcome” but she believed a resolution is possible.

A deal must be secured in “weeks rather than months”, Mr Coveney said.

Powersharing talks
Northern Ireland Secretary Karen Bradley and Irish foreign affairs minister Simon Coveney speaking at Stormont

Failure to make “rapid progress” will mean the UK government will face significant decisions, including setting a budget for the new financial year, Mrs Bradley said.

MLA pay and a fresh election would also be looked at and “ultimately other arrangements” she warned.

Mrs Bradley said the need for a solution was “urgent” and the political consequences of failing to reach a deal would present a “significant setback to the progress” made since the Belfast Agreement.

“A short, intense set of political talks to restore the executive” will begin on Wednesday.

“Based on my conversations so far, I believe it is possible to reach agreement,” Mrs Bradley said before insisting she was “not thinking” about the talks failing.

She added: “Progress must be swift. It is clear that Northern Ireland needs strong devolved government and political leadership.

“The people of Northern Ireland cannot continue to have their public services suffer by the lack of an executive and without ministers making the key policy and budget decisions.”

Mrs Bradley said she will be updating Parliament on the progress of the talks “no later than February 7”.

Mr Coveney said all parties were “very conscious of the time pressures”.

“I think we are talking about weeks rather than months here,” said the Irish deputy prime minister.

“The pressures have been building for some months now in the context of decisions that need political input from a devolved government here in Northern Ireland that can’t be made in the absence of the being possible.”