Reacting to a briefing from officials at the Department of Enterprise Trade & Investment to the ETI Committee, the Strangford MLA said: “It is clear the Department of Business Innovation and Skills in London wants to end Northern Ireland’s status as an Assisted Area for regional aid. Yet, the Secretary of State for Northern Ireland wants the whole of Northern Ireland to be classified as an Economic Enterprise Zone. Which it is? Are we to rebalance as a cohesive unit, or not?
“Ending out Assisted Area status is a huge development. Selective financial Assistance amounts to some 40% of Invest NI’s programme budget. In 2010, Invest, the Department of social Development and the NI Tourist Board paid out some £73 million in cash to help businesses with regional aid for areas such as transport, power, lighting, heating, water and sewerage.
“It is critical that the Department of Enterprise retains this key policy tool, to use alongside the devolved power to vary Corporation Tax, if we are to have any chance of growing our private sector.
“I call on the Secretary of State to clarify these mixed messages, and encourage business people across Northern Ireland to voice their objections to this BIS proposal by responding to the current Consultation process, which remains open until the 2nd of November.”