We’re a great place to do business

In these earliest of days for the new UK government, Stormont Executive and Assembly, the CBI is clear.

Lasting, positive change will only be possible if government and business renews its partnership. Focused on delivering ambitious solutions to the challenges that we face.

Northern Irish businesses have four priorities.

First is the development of a new NI Economic Strategy. While its sights must be firmly fixed on improving our fiscal balance, the new strategy must also deliver better living standards for people, create well paid jobs and attract international investment.

Politicians must consider the creeping costs of running a business in Northern Ireland.

And there must be an honest debate about how we appropriately fund our public services.

Second is pressing on with infrastructure investment - by developing new ways to fund critical infrastructure projects in a more financially sustainable and long-term way. It’s no secret that Northern Ireland has a critical funding deficit in many areas, including water and wastewater infrastructure, as well as transport and road maintenance.

Dealing with water and wastewater is just one example.

Northern Ireland Water alone has a projected deficit of over £2 billion between 2021 - 2027, and currently states that 50% of water treatment plants are now either at full capacity or fast approaching full capacity. What was once a pressing concern is now an urgent issue.

Examples like this are just the tip of the iceberg. We’ve got to find innovative ideas - as business and government - to bridge this infrastructure funding gap, while also achieving other key priorities like housing and business development.

Third is on developing our Energy Strategy to ensure that Northern Ireland becomes net-zero by 2050.

There is no doubt that the future strategy must be ambitious in its efforts to decarbonise. It must focus on actions that deliver long-term policy certainty and stability; support a balanced transition for all sectors towards a low-carbon future and accommodate a rapidly changing technological landscape.

And, of course, any Energy Strategy must prioritise the development of the North-South Interconnector.

It is of vital importance to the supply of affordable and reliable electricity to Northern Ireland homes and businesses.

Finally, is access to skills.

That means reforming the Apprenticeship Levy, ensuring we’re able to employ the talent we need at all skill levels and having the training in place to up-skill and re-skill employees as technology rapidly transforms the workplace.

The “New Decade, New Approach” deal puts Northern Ireland on the right path.

But we must not forget that delivering on these priorities must be underpinned by a collective and united regional voice feeding into the Future UK/EU Trade Agreement negotiations. We at the CBI will ensure the voice of business in this region continues to be heard, on this as well as on the other issues that matter to our economy.

As Northern Ireland starts this new chapter, it’s clear that firms are optimistic about the future and understand their role in helping find solutions.

So let’s make 2020 a decade of partnership, the decade of delivery and create the conditions for NI companies to prosper.