Wed 25th Nov 2020
NI Chamber responds to Chancellor’s Spending Review
Commenting on the Chancellor’s Spending Review, Ann McGregor, Chief Executive of Northern Ireland Chamber of Commerce and Industry (NI Chamber), said:
“The Chancellor’s spending review comes at a critical time, when the pandemic is far from over and many industries continue to suffer the effects of Coronavirus-related restrictions. The additional £900m that has been allocated to the NI Executive is extremely welcome – as is the Government’s priority to support the levelling up of Northern Ireland’s economy with the rest of the UK.
“We look forward to hearing more about the additional money allocated to Northern Ireland and also receiving more information on England’s £4 billion Levelling Up fund and how this will benefit NI. The £20 billion of investment to support new housing from 2021-22 will also be welcomed by our local construction firms who build or supply into GB.
“However with an uncertain winter ahead, the government will need to maintain an open mind on providing further support to businesses struggling to survive. Also, as we look to the future, businesses will also need further significant incentives for investment in their people and productivity to ensure that they are well placed to recover and grasp new opportunities as they occur.”