Mon 9th Jan 2017
NI Chamber comments on current political situation
Nick Coburn, President of Northern Ireland Chamber of Commerce and Industry (NI Chamber), said:
“Northern Ireland Chamber of Commerce and Industry (NI Chamber) has a track record of encouraging our politicians as they put policies in place which will facilitate and support economic and social development.
“So having remained as positive as we can for as long as we can, we have the credibility to say that throughout the business community there is presently a very deep sense of frustration at the instability which now characterises our political institutions.
“The hope and optimism which greeted the Fresh Start Agreement has dissipated. Business confidence stalled because of the uncertainty regarding the impact of Brexit and the potential risks to export and inward investment resulting from the change of the US Administration. The current political situation adds to this uncertainty and will have a negative impact on economic and social development.
“Meanwhile, the global economy is growing, so too are the economies in the UK and the Republic of Ireland where they are working on ambitious economic growth plans. The sad reality is that Northern Ireland is falling behind, and we need political stability to deliver the ambitious plans set out in the new Programme for Government and Export Matters Action Plan to grow trade.”