Commenting on the Chancellor’s Autumn Statement, which sees Northern Ireland receive over £250m extra infrastructure funding, Ann McGregor, Chief Executive of Northern Ireland Chamber of Commerce and Industry (NI Chamber), said:

“NI Chamber welcomes the Chancellor’s announcement that extra funding is to be directed at infrastructure and innovation with Northern Ireland receiving its share via the Barnett consequential.

“One of the key infrastructure projects in which investment must be made is the York Street Interchange. Road schemes such as this will do much to ease congestion on heavily trafficked roads in the region which will help businesses to move products and goods more efficiently and in the process reduce costs.

“With regards to creativity and innovation, companies who have these at their core are significantly more effective in terms of gaining market share, increasing exports and growing.

“From small to large, Northern Ireland boasts some of the most innovative and creative companies in the world…and more are being established every day.

“The investment in creativity and innovation is therefore to be welcomed as it will underpin research and development already being undertaken by companies. It will also provide a solid platform for new R&D projects in the future and highlight Northern Ireland’s strength as a rich knowledge-based economy.

“The growth of the local economy depends on our businesses being able to thrive and today’s announcement will have a major part of play in this.”