Northern Ireland businesses 'breathe sigh of relief' as DUP end power-sharing boycott

Businesses throughout Northern Ireland can now ‘breathe a sign of relief’ after the DUP agreed to end their boycott of Northern Ireland power-sharing.

Last night DUP’s 130-member executive voted to end the two year obstruction of Stormont following marathon behind-closed-doors talks.

In a statement, Angela McGowan, director, CBI Northern Ireland, said ‘businesses will be relieved to see an end to this impasse’.

She continued: “We welcome the decision reached by the DUP overnight. The return of a devolved government in Northern Ireland is long overdue and marks the end of a period of political inactivity that has undoubtedly held the local economy back and impacted upon living standards.

“A fully functioning NI Executive sends out a positive signal to global investors and should enable the region to attract more tourism and high-profile events. In addition, a stable political system will provide hope to Northern Ireland’s young people and will encourage them to stay and work in the region.

“While businesses will be relieved to see an end to this impasse, there will also be a strong sense that the hard work starts now. When politicians return to Stormont, they must grasp the opportunities provided by our unique trading arrangements with Britain and the EU. The business community wants to see the new Executive prioritise education and skills as well as ensuring our vital infrastructure is fit for purpose.

“It’s time for politicians of all stripes to put differences aside, stay the course and focus on the issues that really matter to the people of Northern Ireland. Against a tough economic backdrop, we need everyone pulling in the same direction to build a competitive and resilient economy the delivers jobs and opportunity for all.”

NI Chamber’s president, Cathal Geoghegan and chief executive, Suzanne Wylie also welcomed the news that the NI Executive may be restored imminently.

In a joint statement they continued: “Following a decision by the DUP Executive last night and as discussions between our political parties begin today, we hope to see the Executive restored within days, but importantly, on a long-term, sustainable footing.

"Clearly the pressing issue of public sector pay will need to be dealt with immediately and the new Executive will then need to agree a new programme for government to deal with the longer-term challenges we are facing.

“NI Chamber is ready to work in partnership with Executive Ministers and our members are prepared to get to work; co-designing and co-delivering on ways to tackle challenges and realise economic opportunities for long-term, shared prosperity.

“Whilst we await clarity on the details of the proposed deal, it is our hope that it helps to unlock Northern Ireland’s economic potential, underpinned by its unique capabilities and strengths.

“Our priority now is delivery; on the public finances and transformation of public services, as well as economic priorities including reform of the planning system, boosting productivity, solving the childcare challenge, dealing with our skills and infrastructure gaps and developing our unique proposition as a place to do business.”

Anna Doherty, CEO of Londonderry Chamber of Commerce, agreed: “It will be a huge relief to our business community that the DUP have agreed to accept the deal to return power-sharing to Stormont.

“After almost two years without an Executive or Assembly, it’s time to get things moving again. Our businesses need it, and our economy needs it. The return of local decision making can only be positive, and we look forward to working with a new Executive when it is formed, particularly a new Economy Minister.

“We hope the necessary legislation will be put in place as swiftly as possible so that a new Executive can be established without delay.”