Northern Ireland Conservatives’ chairman, Irwin Armstrong, has welcomed the Chancellor of the Exchequer’s Autumn Statement. He said that the financial measures announced by George Osborne will help, “steer the UK through the debt crisis and get the economy growing again”.
Irwin also noted that the government’s statement offers “a great deal for Northern Ireland, with extra money to spend on improving infrastructure, a range of tax breaks for small and medium businesses and much needed relief for motorists.”
“The Chancellor confirmed that the economic mess left by Labour is worse than anyone expected”, Irwin continued, “but his statement should give everyone in the UK reason to be optimistic”.
“While the turmoil in eurozone countries goes from bad to worse, George Osborne is able to forecast growth in the economy and currently, thanks to prompt action to combat the deficit, the UK pays a lower interest rate when it borrows money than Germany.”
“The Autumn Statement offers a range of incentives to small businesses to invest in jobs and provides a major stimulus to the economy. In Northern Ireland we will receive our share of an extra £20 billion ear-marked to improve roads, bridges and other infrastructure projects. In addition there will be money to ensure that broadband and mobile phone networks here are state of the art.”
“Businesses will find it easier to hire and fire staff, removing stifling bureaucracy which hinders job creation and there will be 50% income tax relief for the enterprising people who start up small businesses. That’s a huge boost for initiative and entrepreneurship in Northern Ireland, relieving the burden on those who risk their own money to create jobs and prosperity.”
“The news that a 3p per litre fuel duty increase, scheduled for January, will be axed will also be a massive tonic for people in Northern Ireland. We are particularly dependent on our cars in this part of the UK and the chancellor has taken decisive action which will save the average family hundreds of pounds each year.”