"All-island economy can kickstart NI's floundering economy" - says CBI NI

  • Speaking at an economic briefing in Belfast, CBI Northern Ireland Director Angela McGowan told an audience of business leaders and economists that embracing the transformative benefits of the all-island economy can kickstart NI’s floundering economy.

    The NI branch of CBI (Confederation of British Industry in full) claims to be the "leading voice of Business in Northern Ireland representing a third of the private sector workforce and more than 60% of the largest employers in the region."

    Ms McGowan said: “The local economy has come on leaps and bounds since the dark days of double-digit unemployment in the 1980s but recently that success has stalled. Business has shown that it can be an engine of growth, one that brings jobs, innovation and improved living standards across Northern Ireland, but it can’t do it alone.

    “Partnership with government is essential, that means restoring power-sharing institutions, but so is capitalising on vital east-west trade links and making the best use of our all-island economy. North-South partnership on areas like energy, healthcare and infrastructure isn’t just convenient, it can deliver higher growth, less deprivation, more people and communities included and sharing in this island’s prosperity.

    “We know that the shopping list from NI businesses is a lengthy one. From securing a Brexit deal to unblocking Belfast congestion and enhancing our digital skills offer, but there are investments we can make right now. It’s time for a clear vision for the local economy, one that focuses on economic fundamentals to keep Northern Ireland competitive and unlocks growth across the island of Ireland and between the British-Irish isles.”

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    The event, hosted in partnership with the Bank of Ireland, focused on how the UK and Irish economies are performing against an international outlook and featured presentations from the CBI's Deputy Chief Economist, Anna Leach, and Group Chief Economist at the Bank of Ireland, Dr Loretta O’Sullivan.

    Assorted business leaders received insights into how they can best respond to national and international economic currents, as well as a chance to network with peers across Northern Ireland.

    About the author

    Niamh is a Sync NI writer with a previous background of working in FinTech and financial crime. She has a special interest in sports and emerging technologies. To connect with Niamh, feel free to send her an email or connect on Twitter.

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