Economy Minister says funding allocation will help build recovery

The Executive has allocated £8.6m for assistance to business, £8.4m for skills and youth training, £9.9m for tourism support, £5.8m to university research and development, £1.85m for support for air routes and £1.4m for energy.

The Minister said: “As Economy Minister my priority has been the rebuilding our economy and I am determined to maintain momentum on the vital recovery work has been ongoing for some time. The allocations announced today will support the work my department is doing to deliver a wide-ranging and comprehensive programme of interventions to rebuild our economy. I have been clear that reconstructing our economy means we need to concentrate on the areas where Northern Ireland can do well.

“As we look to advanced manufacturing, life and health sciences, digital, and clean energy, to help grow our economy, we need to create the environment to innovate and develop. And we must ensure we have the skills and a talent to capitalise on this innovation. Investing in research and development and skills and youth training is vital to support this. I also want to support our Northern Ireland business to expand. Our tourism and aviation industries has been a mainstay of the Northern Ireland economy for many years and it is essential in driving its recovery. That is why I will invest nearly £12m in supporting these industries.”

The Minister said she would bring forward further details in the near future.

The Department was also allocated £3.5m for PPE to provide a safe learning environment in Further and Higher Education.

A message from the Editor:

Thank you for reading this story on our website. While I have your attention, I also have an important request to make of you.

In order for us to continue to provide high quality and trusted local news on this free-to-read site, I am asking you to also please purchase a copy of our newspaper whenever you are able to do so.

Our journalists are highly trained and our content is independently regulated by IPSO to some of the most rigorous standards in the world. But being your eyes and ears comes at a price. So we need your support more than ever to buy our newspapers during this crisis.

With the coronavirus lockdown having a major impact on many of our local valued advertisers - and consequently the advertising that we receive - we are more reliant than ever on you helping us to provide you with news and information by buying a copy of our newspaper when you can safely.

You can also enjoy unlimited access to the best news from across Northern Ireland and the UK by subscribing to newsletter.co.uk

With a digital subscription, you can read more than five articles, see fewer ads, enjoy faster load times, and get access to exclusive newsletters and content. Visit https://www.newsletter.co.uk/subscriptions now to sign up.

Thank you