The Ulster Unionist Party today published its response to the consultation process regarding the NI Executive’s draft Economic Strategy. This follows extensive discussions both within the Party, at Association level, and with key economic stakeholders, including the IoD, CBI, FSB, NI Chamber of Commerce and Construction Employers Federation.
Economy spokesperson, Sandra Overend MLA said: “As the economy is at the heart of everything the Executive does, this draft Strategy is probably the most important strategic document that will come out of the Executive this mandate.
“We welcome its publication, and rather than examine it, sentence by sentence, we have tested it against a “Triple A” formula, of its Ambition, in terms of targets such as job creation; its Awareness of the key issues facing the private sector; and the Avoidance of the inhibitors preventing private sector growth, such as bank lending.
“We sense the targets lack ambition, particularly the target of promoting just 25,000 jobs over the four year period. This sends a poor message to the over 60,000 currently registered as unemployed, who can only conclude their government is content they have less than a one in two chance of getting state help into employment.
“In terms of awareness, we call for a renewed drive to secure a NI-wide Economic Enterprise Zone, with a whole basket of measures and incentives for the private sector, above and beyond the drive to secure the devolved power to vary Corporation Tax.
“The document also avoids several key inhibitors to business growth, including the red tape that the Department of Enterprise Trade & Investment is at least partially responsible for. It is also noteworthy that in an 88-page document, the words “bank” “banks” and “banking” appear only seven times in the main body of the text, clearly avoiding the existential threat to so many of our small businesses from cash flow issues.
“I would like to take this opportunity to thank my colleague, Mike Nesbitt, as the former Economy Spokesperson, who carried out a very thorough and comprehensive consultation around this Strategy document. The people of Northern Ireland can be assured that my Party will continue to work positively with key stakeholders, including DETI and Invest NI, to achieve the best possible outcomes for the NI economy, and consequent improvements in living standards for all.
“We do, however, reserve the right to continue to exercise our duty of scrutiny of Executive policy, praising and supporting where fitting, but also challenging, criticising and citing alternatives where appropriate. We trust the comments above represent a constructive contribution to the consultation process, and look forward to the Department’s response.”
The Ulster Unionist Party response to the draft Economic Strategy can be accessed at – http://www.uup.org/index.php/2011-10-21-08-40-11/consultation-responses.html