Time to reboot economy, says Trade NI

Trade NI, a new cross-sectoral alliance between hospitality, manufacturing and retail in Northern Ireland has warned any incoming NI Executive that the needs of the business community will need to be right at the top of its agenda.

The ‘no nonsense’ ultimatum was unveiled at the launch of the new group recently, when the constituent bodies’ leaders told MLAs that they would need to work harder to increase productivity in NI, reduce the regulatory burden on business and deliver a clear economic strategy.

Trade NI is made up of three existing bodies – Hospitality Ulster, Manufacturing NI and Retail NI – and with talks still ongoing in Belfast in a bid to see the NI Executive reconstituted at Stormont, the leaders of all three groups have warned in a joint statement there are ‘huge economic and political challenges ahead’ for Northern Ireland.

‘The paralysis that has been created with the lack of an Assembly and Executive has developed a situation where very little has been done to address the needs of our sectors or the economy at large,’ said Trade NI.

Indicating that it would seek to give leadership on behalf of all three sectors and provide ‘new policy solutions to creating a modern local economy’, it added:

‘The shift of power from Stormont to Westminster means that we must press decision-makers there to implement policies and make legislative changes that will help grow Northern Ireland. Our local economy and businesses have taken a back seat and we simply cannot afford that situation any longer.

‘Our three organisations represent most of the businesses that make up private sector jobs in Northern Ireland. Therefore, a louder voice needs to be heard on their behalf so that they don’t suffer in the wake of the political issues. We want a reboot of the economic policy of Northern Ireland in order to benefit out economy and safeguard our growing business community.’

Last year, the groups brought together business people and ministers, including the Secretary of State, for a reception at Westminster during which the focus was on Northern Irish issues. Trade NI says that this year’s event will be used to make sure that local issues don’t ‘fall by the wayside’.

Trade NI will also be launching its own ‘Northern Ireland 2040’ document in which it will set out its own long-term vision for the NI economy.