Published Thursday, 04 March 2010
Matt Baggott emphasised the need for the extra money as the police revealed there have been 34 separate dissident republican attacks in the last 18 months.
While 160 suspects have been arrested in that period, nobody has yet been charged in relation to 25 of the incidents.
Secretary of State Shaun Woodward warned on Wednesday that the cash offer from the UK Treasury would be withdrawn if assembly members do not support the transfer of law and order responsibilities at a crucial vote next week.
Mr Woodward said there was no question of funding not being available to tackle the dissident threat, but said community policing would be affected if the £800m was lost.
Although the blueprint for devolution was hammered out by Sinn Fein and the DUP at Hillsborough Castle last month, the agreement could yet be thrown into chaos if the UUP don't back the proposals in the Assembly.
'Choices'
Mr Baggott told members of the Northern Ireland Policing Board on Thursday that the money was vital to bring financial stability to the police service at a time of economic uncertainty.
"Chairman we're coming into a time of choices," he said to acting board chair Brian Rea at the monthly meeting in Belfast.
"I want to say again that the financial package that is on offer through the agreement is I believe critical to freeing us up and finding the time to deliver something in a year to perhaps meet a tougher economic climate.
"That agreement will give us financial stability during a time of immense change. I wanted to emphasis again how important that is," Mr Baggott said.
"And secondly I do believe it (the agreement) will give us the opportunity, even if the debate is very spiky at times, to resolve issues that need to be resolved at local level rather than remotely."