Clare Guinness, CEO at Belfast Chamber, said:
“Having been without a multi-year budget for over a decade, it is very welcome to finally see Northern Ireland’s financial planning being aligned with the Programme for Government. The announcement of this consultation is therefore not a moment too soon. While a multi-year budget would by no means be a panacea, it would represent an important first step towards creating an environment in which financial decisions can be made on a more strategic basis, with a medium to long-term view.
“This is something Belfast Chamber has lobbied for. Until now, Northern Ireland has been forced to muddle through with year-to-year budgeting. No business could operate successfully like that, and as a region we should not be expected to do so either. Greater certainty gives public services, investors and the wider economy a better platform for planning, reform and delivery. We realise there are significant constraints on the finances available, meaning the much-talked about transformation must become a reality.
“We would strongly encourage our members and the wider business community to engage meaningfully with this consultation. The choices ahead are challenging, but a transparent and strategic approach to budgeting is essential if Northern Ireland is to improve productivity, and long-term economic resilience.”
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