McKay thanks the voters of North Antrim

Speaking after the results were announced Mr McKay said: "This election was a significant one for a number of reasons. The TUV and rejectionist unionism has itself been rejected comprehensively by the electorate; people are supportive of political progress and the parties involved in moving things forward for the better; and finally Sinn Fin has emerged as the largest party in the north.

"Given that the Glens has moved into East Antrim as part of the Boundary changes we were immediately up against it as we lost more voters than any other party. Nonetheless we still maintained our position as the largest nationalist party and put in a very impressive performance.

“I give great thanks to all the people who voted for us. My colleague Michelle Gildernew's victory in Fermanagh/South Tyrone shows the value of every single vote and the importance of people using their mandate,” said Mr McKay.

"We will continue to use our mandate to bring about positive social change; focus on carrying out the actions necessary to kick-start the economy again and work toward the further devolution of powers to ensure that locally accountable politicians have direct control of the levers of fiscal & economic policy.

"Hoping to hold the balance of power in Westminster is not the way forward economically and is an extremely unlikely scenario. Lobbying jointly for the devolution of further powers from London, eg the setting of corporation tax (which was recently flagged up as local businesses top issue in a Belfast Telegraph poll), is a much more effective way forward,” said Mr McKay.

“Other parties recognise that Direct Rule failed us in the past; it's time to acknowledge that it has failed us economically as well,” he said.