Peter Robinson and his Executive are “storing up trouble for Northern Ireland, by ignoring serious underlying issues with the economy”, according to the Conservatives’ economic spokesman, Johnny Andrews.
“The latest figures from the Ulster Bank show that economic activity in Northern Ireland is slowing down and job creation is slowing down”, Johnny explained. “We are lagging further behind the rest of the UK, which is a definite cause for concern. The Executive has no plan to make our economy more competitive, it hasn’t resolved its budget issues and it is distracted by talks at Stormont, around matters which should have been decided over a year ago. Last week the Chancellor delivered powers to lower Corporation Tax, pending agreement at the talks, but already some parties seem to be backing off from their commitments to a cut.”
“So far, the improving picture across the UK has helped Northern Ireland, despite the Executive’s lack of action. With continuing concern about a lack of growth in Eurozone economies, there may be tougher times ahead. It’s imperative that the Executive addresses issues around competitiveness, by harmonising employment law with the rest of the UK, tackling high energy costs, simplifying planning law and rebalancing the economy toward the private sector. The Ulster Bank’s PMI figures have shown consistently that Northern Ireland is not keeping up with the rest of the UK. It’s time that the Executive took responsibility and showed awareness that only a strong private sector can bring new jobs and lasting prosperity for everyone in our community.”