ROI Budget

There are no winners in the ROI emergency budget. The extreme spending cuts including cuts in Education and health, together with € 1.8 billion reduction in capital spending makes this a very worrying situation for Northern Ireland. As our closest neighbours we share one another hardships and as a border county we have every reason to be concerned at the draconian budget. The economy in Derry relies fairly heavily on a healthy economy within ROI. The increased personal taxation of up to 10% will have a significant impact on consumer spending and we will no doubt feel the pinch within the city, particularly within the retail and tourism sectors. We in the North West have important linkages in both trade and export which both governments are intent on ensuring that these linkages are maintained and protected.

On a more positive note we have been heartened by The Taoiseach, Mr Brian Cowans, continued reiteration that the capital funding for the A5 is secured and we will continue to press the government to invest in cross border capital projects that will help grow and develop the all Ireland economy.

Sinead McLaughlin - Chamber of Commerce, Chief Executive