Stormont To Support Industry In 2009

Stormont's top Executive Ministers have this week outlined plans to better deal with the recession into the New Year- including significant support for the construction sector.

First Minister Peter Robinson and Deputy First Minister Martin McGuinness have announced new measures which aim to target both business and commerce as global 'belts are tightened' into 2009.

Mr Robinson said: "We have been clear from the beginning of this Executive that the economy was our priority. In light of the current global economic downturn, it has proven to be a wise decision.

"It became clear very quickly in these discussions that the myriad of problems we faced had no one single solution. We have therefore put together a range of measures as part of an overall package that will sustain Northern Ireland’s economy over the coming years and months while confidence returns to the global credit market," he said.


Mr McGuinness added: "Record levels of investment in our roads, schools hospitals and infrastructure will continue to create jobs in our hard pressed construction industry.

"Schemes to provide help to those who face difficulties with mortgages and fuels costs have been introduced and initiatives to assist our small businesses (SMEs) who form the backbone of our economy are being put in place."

The package has been split into five broad areas covering energy and fuel poverty, debt arising from the increasing cost of living and unemployment, support for the housing market and construction industry, support for household budgets and support for businesses.

In dealing with the problem of energy prices the Executive welcomed this week's announcement by the NI Energy Regulator that energy prices would be driven down over the coming months.

Also, a total of £21 million has been allocated to the Warm Homes scheme to making housing more energy efficient and to deal with the increased debt that results from any economic downturn the Executive has put in place a £1.2 million contract to Citizens Advice for another three years to continue to provide free, effective, high quality debt advice at centres across Northern Ireland.

The Department of Social Development has also been allocated a total of £150 million for social housing and adjusted the scope of the co-ownership and house sales schemes to make buying a home more affordable.

(BMcC)