There has been a successful conclusion to talks on public sector pay which will see most public servants having their pay restored by around €2000.

This will happen over three phases between January of next year and September of 2017.

The pay restoration will be achieved through a combination of adjustments to the public service pension levy and a partial reversal of the 2010 public service pay cuts.

The agreement - which will be known as the Landsdowne Road Agreement - will also see the protections of the Haddington Road Agreement extended to September 2018.

The Minister for Public Expenditure, Brendan Howlin has welcomed the agreement saying he 'believes it strikes the right balance between the legitimate aspirations of public servants for pay recovery and sustaining our improving public finances'.

Meanwhile, IMPACT says that today's outcome will facilitate further job growth in this country by putting more money in the pockets of public servants.

Minister for Public Expenditure Brendan Howlin has also welcomed the outcome, speaking to TV3: