NEW GOVERNMENT – NEW OPPORTUNITIES

Representatives of the Londonderry Chamber of Commerce have called on Northern Ireland MLAs and MPs to persuade the new government to maintain the block grant to Northern Ireland and to reduce corporation tax here.

Speaking from the Chamber of Commerce, President  Jim Sammon said:

"The new Conservative/Liberal Government in the UK has an opportunity to support social and economic growth in Northern Ireland.   While there is no doubt that Government intends to reduce spending, there is a special case for continued support for Northern Ireland.  Reduction of public spending here at this time would undermine the work that has been done in recent years to build our economy and reinforce the peace process and social progress here.  It is very important that our elected representatives in Stormont and Westminister persuade Government to support our economic and social development in Northern Ireland - and, given our history, ensure that Government makes a special case for Northern Ireland when it comes to funding. We have the potential for sustained economic growth and performance - but we are coming from behind and we need continued support to make that happen."

Chief Executive, Sinead McLaughlin, also emphasised

"The global economy is returning to growth - it is very important that at this critical time nothing is done to undermine the economy of Northern Ireland. There is an opportunity for the Westminster Government to reduce corporation tax in Northern Ireland to the level of the Republic of Ireland.  Such a decision would create a level playing field of investment on the island of Ireland and encourage new investment in Northern Ireland by companies in high value added industry.  There would, no doubt, be a great return as regards reduced unemployment and higher productivity.  The conservatives have already signalled their intention to do this.  I would expect public representatives from Northern Ireland to make a strong case for implementation of such a policy."

For further information contact Sinead McLaughlin on 02871262379