Speaking to BBC Newsline, Sir Chris said he had given executive parties until noon next Thursday to come back to him with a plan for agreeing a budget for this year and the following two years.
“It’s my final offer. It’s a good offer,” he said.
He added: “There is no more money. The financial situation in the UK government at the moment is very, very tight.”
Asked whether he was prepared to introduce a budget at Westminster if the executive did not accept the offer, Sir Chris said: “I’ve got to look at every eventuality. Of course I have. I’ve got to be responsible about this.”
He said he did not want to legislate for a budget and would prefer to work with executive parties to reach an agreement.
“If it’s impossible to set a budget through the executive, then somebody else will have to do it for them,” he said, adding that he was “not at that stage yet”.
Sir Chris also said the executive would have to consider raising additional revenue, but that it was not his job to tell ministers how to do so.
He said he had not specifically raised the introduction of water charges with executive parties.
