Invest NI at centre of latest clash over budget

The party has said investment plans would be “destroyed” by the draft Budget proposed by Sinn Fein finance minister Conor Murphy, as the ongoing clash between Northern Ireland’s two largest parties over public spending continues.

Mr Murphy has said he is unable to progress the draft budget in the absence of the First and Deputy First Ministers Paul Givan and Michelle O’Neill. It was reported in the Belfast Telegraph on Friday that a number of international companies are “losing interest” in Northern Ireland because Invest NI cannot free up funding. Invest NI, however, has denied knowledge of the projects and stressed it does not comment on “rumour or speculation”.

The DUP MLA Gary Middleton, meanwhile, has insisted the budget put forward by Mr Murphy would have hindered Invest NI’s ability to attract companies with financial assistance.

The Foyle MLA said: “This budget failed to get any support at the Northern Ireland Executive beyond Sinn Fein ministers. It slashes key Departmental budgets and would destroy investment plans for Northern Ireland.”

He continued: “Investors are attracted to Northern Ireland because of our skills, our people, our low cost base and the incentives offered by Invest NI.

Conor Murphy’s budget would decimate Invest NI’s ability to offered financial help to companies. If this Sinn Fein budget was implemented, Invest NI would have to lay off staff, close global offices and would quickly be reduced to offering companies writing pads and pens.”