Johnny Andrews has hailed the announcement that the International Monetary Fund has raised its forecast for UK growth in 2014 for the fourth time.
“I keep waiting to hear Sinn Fein and the DUP – who continually attack the Conservatives on issues like welfare reform - acknowledge the conservatives achievements. I suspect they are too busy navel gazing about flags and parades to notice this great economic news.”
“Our long term economic plan is working and, although there is much still to do, Northern Ireland – as an integral part of the UK economy - is well placed to benefit from this economic growth.” Said Andrews.
Back in April 2013, the IMF warned that Britain was "playing with fire". Now, it has raised its forecast for UK growth in 2014 for the fourth time. The IMF now expects the global economy will growth by 3.4% this year, down from 3.7% back in April. The IMF still expects global growth of 4% in 2015. But it also warned that "increased geopolitical risks" could hurt the global economy, by driving oil prices sharply higher.
The IMF now expects growth of 3.2% in the UK this year, up from 2.8% before. In 2015, it expects growth of 2.7%, up from 2.5% before.
“This is not all dry statistics – it is about jobs and an economic future for all our people. Sadly, despite common sense prevailing over recent parades Peter Robinson and Martin McGuinness and their parties continue to do more harm than good to the economy by their endless petty squabbling. They should start addressing competitiveness so devolution of corporation tax can work and get back into full talks to deal with shared future issues. With the OTR report released and the marching season passing peacefully there is a window before another election is upon us.
“There is no doubt about it – the good economic news is down to Cameron’s government not the Stormont shambles.”