Unlock Brexit deal for NI economy

Businesses will welcome steps towards a deal that guarantees the rights of four million citizens living abroad in the UK and EU, provides certainty by unlocking a transition period and will not see a return of checks at the land border.

However, there are areas where the deal falls far short. The political declaration, in its current form, would end decades of free and frictionless trade with our largest trading partners, forged by firms big and small. It would add huge cost and complexity across some of the UK’s world-leading industries and lacks meaningful commitments on services – a sector which makes up 80% of the Northern Ireland economy.

Firms know that this is just the start of years of further talks, treaties and tête-à-têtes. But companies have serious concerns about the current direction of the future relationship.

That’s why businesses here in Northern Ireland need urgent clarity from the UK Government about how they intend to protect Northern Ireland’s place in the internal market. So, going forward, the CBI will be calling for politicians on all sides to put people’s jobs and livelihoods first.

Northern Ireland firms simply cannot afford for the next phase of Brexit to drain investment and growth at the level we’ve seen over the past three years.

If common ground can be found on Brexit, just imagine what Northern Ireland could achieve with the enormous potential of an all-island economy. Earlier this month, at the CBI/IBEC conference, we looked at exactly how businesses in the North can build greater economic co-operation with the Republic of Ireland. By connecting road and rail across the North and South, pushing towards zero carbon, the electrification of vehicles and public infrastructure on both sides of the island.

Businesses are already achieving amazing things all over Northern Ireland - in hospitality, world class agri-food and pioneering fintech. It’s attracting investment and spearheading innovation projects. Just recently, Seagate announced a £47 million investment - supported by a further £10 million from Invest Northern Ireland - for a new R&D project in the North West. The centre will be at the forefront of innovation – experimenting with new possibilities in data and computing. With Ulster University launching a new enterprise centre for students, supported by Santander and local industry experts, to encourage innovation and help young people launch their own business, the ambition is clear.

But to keep these success stories going Northern Ireland needs people. A recent survey showed 96% of our members here say the skills gap is a growing problem, in particular when it comes to digital skills such as cloud computing and data analytics.

With digital skills needs set to skyrocket in the next few years, how will the country meet this challenge? One solution is a digital skills action plan for Northern Ireland. Next month, the CBI will be launching a new report outlining exactly what this plan could look like. Our recommendations range from removing barriers in the existing immigration system to harnessing the insight of CBI members – to get a stronger picture than ever about where skills needs are.

Sadly, without progress on Brexit, pioneering innovations, increasing investment and improving skills will be left on the backburner. Businesses want a negotiated agreement with the EU so that they can get on with what they do best, creating jobs and opportunities, delivering great products and services, helping pay for schools and hospitals. We can’t let this exciting vision for the Northern Irish economy be lost to yet more Brexit gridlock.