The CBI has welcomed the news that Northern Ireland political leaders have agreed to new power-sharing talks. Northern Ireland has been without a functioning devolved Executive for over two-years – which has had a detrimental effect on businesses all over the island of Ireland.
The CBI continues to work for our members in doing all we can to encourage our politicians to work together and come to a compromise in order to restore devolution and to allow businesses and the local economy to progress and move forward.
The CBI/Ibec Joint Business Council (JBC) - which is the voice of business across Ireland and Northern Ireland – joined forces to offer our support to politicians by releasing a statement.
“Business leaders across Ireland and Northern Ireland hope the parties will work together to end the political deadlock, which has lasted for more than two years. At a time of great uncertainty, an Executive programme to support business investment and employment is urgently needed,” it read.
It also referred to the recent £105m city deal announced for Derry/Londonderry and Strabane as an example where growth potential is put at risk by the absence of a functioning Executive. The deal will require match funding from a power-sharing government, private sector investment and active coordination through the North/South Ministerial Council. And it should be working in parallel to initiatives such as the Ireland Northwest Gateway to Growth initiative.
“A restored Northern Ireland Executive and a reinstated North South Ministerial Council are essential if we are to protect and grow the all island economy,” the statement continued. “The JBC strongly urges all parties to come together, compromise and have the devolved Institutions operating as soon as possible.”
The CBI will continue to highlight member concerns and missed opportunities for economic growth, until this situation is resolved.