NI Conservatives’ economy spokesman, Johnny Andrews, has accused the Executive of ‘sleepwalking towards a jobs crisis’ and failing to ‘deliver a boost for business’, after the latest labour statistics revealed an increase in unemployment and economic inactivity in Northern Ireland.
“The Executive’s Programme for Government promised that creating jobs would be a priority, but it doesn’t seem to have any ideas and its strategy is clearly failing”, Johnny remarked. “The minister, Arlene Foster, is happy to talk about the rate of unemployment comparing favourably to the EU or the rest of the UK, rather than take action.”
“The true story is reflected by the Ulster Bank’s Purchasing Managers Index May 2012 survey which last week revealed that Northern Ireland’s manufacturing output is among the lowest in the EU - between Greece and Spain in the rankings. There is an urgent need to rebalance the economy and increase exports here, yet our manufacturing sector is shrinking and the hard work to achieve growth has scarcely begun”.
“Rather than constantly prioritise the size of the block grant from Westminster, we need to see business friendly policies implemented as soon as possible. The Executive must start by using the tools which it already has at its disposal, such as enterprise zones, favourable loans to small and medium businesses, rates relief for exporters and so on”.
“Northern Ireland’s economy will not grow without a vibrant private sector and unless the economy is rebalanced job losses will continue. This Executive has shown no sign of recognising or prioritising the needs of business or the conditions which help create jobs, and the latest Labour Market Statistics are a direct result”.