NI Conservatives’ finance spokesman, Harry Cullen, has said Northern Ireland is ‘losing out on the potential of enterprise zones because of the Stormont executive’s inability to act decisively’.
“Eric Pickles, the secretary of state for communities and local government, has just announced an extra £104 million for enterprise zones across the UK”, Harry explained. “This money is aimed at providing the local economies which most need help with a boost and getting building projects which are ready to go started immediately”.
“Government has already provided money to the Stormont executive for enterprise zones and both the Welsh executive and the Scottish government have got on with creating them in their jurisdictions. The zones can act as hotspots for economic growth, allowing lower business rates, incentives for exporting goods abroad, lower capital allowances, better IT infrastructure and less planning regulation.”
“The potential for somewhere like the Titanic quarter, which is already attracting hi-tech businesses and the film industry, is huge. Unfortunately, it seems that, with this executive, there’s always an excuse not to do something to help businesses and create jobs. Unless it acts now, Northern Ireland will continue to miss out on the potential benefits of enterprise zones, which the rest of the UK is currently enjoying.”