John Stewart MLA, UUP Economy Spokesperson, is calling on the Executive to set up a Northern Ireland Recovery Plan:
Key points:
- The creation of a ‘Recovery Fund’ based on the Welsh model to give businesses grants to keep them viable until next financial year
- A targeted rates holiday for critical sectors for a similar period
- A Recovery Programme for Government (PFG) owned and led by TEO and all Executive Parties assisted by a coalition of all talents from Business, Civil Society and the Unions
John Stewart MLA said:
‘By any reckoning this is the worst crisis that the global economy has faced this century; the United Kingdom is not immune and Northern Ireland, in particular, is especially vulnerable to the downturns in manufacturing, the service economy and the hospitality and tourism sectors.
“With historically high levels of economic inactivity and a background of a shortage of skills, we are not well placed to secure, never mind grow our Economy, unless significant and in many ways, radical, action is taken. If ever there was a need for a ‘joined up’ approach between government, civic society and all spectrums of the business community, it is now.
“Businesses need action now and we should seek to help them by establishing a Northern Ireland Recovery Fund based on what is happening in Wales; extend the rates holiday for targeted businesses and establish a Recovery Programme for Government to help guide us out of the worst impacts of the global pandemic.
“There is no room for political ideological grandstanding, there is now only room for resolute action and leadership – leadership that can only come from a Northern Ireland Executive that has the interests of Northern Ireland and its economy at its heart.”