NI Executive urged to use Covid-19 crisis to build new economy

A report published today paints a bleak picture of the post-Covid economy – including an economic downturn “set to dwarf that of previous recessions” – and calls on the NI Executive to tackle some serious, underlying problems.

According to Pivotal, its ‘A New Economic Vision’ document demonstrates how the Covid-19 crisis has created “an opportunity for real change” and “for improving skills and productivity, for modernising infrastructure, and for working towards a sustainable and greener future”.

Pivotal was launched in September 2019 with the aim of helping to improve public policy in Northern Ireland.

The board of trustees overseeing Pivotal’s work includes Peter Sheridan (chair), chief executive of Cooperation Ireland; Lisa Faulkner Byrne, project coordinator, EPIC and NICVA chief executive Seamus McAleavey.

Announcing the new report, it said the economy in Northern Ireland “is likely to suffer for longer than other parts of the UK”.

The report urges Stormont ministers, across all parties, to work together to both create and then deliver a long-term economic strategy that benefits everyone”.

It states that the “economic disruption arising from the pandemic and resultant lockdown will continue for a considerable time” and adds: “This crisis should be used as an opportunity to deal with persistent issues and create new, lasting strengths.”

The paper goes on to say that Northern Ireland has to have a clear focus on long-term opportunities. It also examines the impact of Covid-19 and how these impacts “are not spread equally among the population”.

Pivotal director Ann Watt said: “The Northern Ireland economy had several long-standing weaknesses before the emergence of Covid-19. This is the start of an extremely challenging period for the economy.

“Everyone can see that there has been a huge amount of disruption, and that this is set to continue. We should use this time to make changes that Northern Ireland needs.”

The think-tank said the Executive acted quickly in response to the immediate health and economic crises arising from Covid-19, and now needs to be similarly bold in developing a long-term economic vision.

Ms Watt added: “An ambitious skills programme, that leans into digital learning, could be transformational – especially for local young people, who are going to be disproportionately affected by the economic downturn, with both higher-than-average unemployment combined with a shrinking number of graduate and trainee opportunities. The Executive as a whole, across all parties, needs to come together and build a Northern Ireland that is fit for the future.”

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