Ulster Unionist Economy Spokesperson, Sandra Overend, has called for immediate action from the Finance Minister in sourcing alternative financing for infrastructure projects following the latest construction bulletin which sets out the performance of the construction industry in the third quarter of 2012.
The Mid Ulster MLA said;
‘’Although disappointing, it unfortunately comes as no surprise that the total volume of construction output in Northern Ireland in the third quarter of 2012 decreased by 4.7% and the value of construction output in real prices in Q3 2012 was the lowest quarterly value reported in the last five years. This is because we are seeing the outworking of another torrid year for the industry which was compounded by the Patton’s Group entering administration.’’
‘’I firmly believe that Stormont can do more to address the plight of the construction industry and the identification of methods of alternative financing, especially through partnerships between the public and private sectors, must now be a priority. The current Investment Strategy does not commit to securing any alternative financing until 2016 and I am calling for the Finance Minister to explore the options in this area immediately in order to fund infrastructure projects and stimulate the construction industry.’’