One of Northern Ireland’s biggest business organisations has called on politicians in Stormont and Westminster to reach a resolution and work hard to restore a functioning Executive..
The Northern Ireland Chamber of Commerce and Industry said soaring inflation had left the economy at a “tipping point” and called for empowered local leadership to chart a path back to growth.
It said that businesses in the province are proving resilient despite the current cost of living crisis, but cracks are beginning to appear.
“The alarm bells are ringing with one in five businesses telling us that they are just covering costs,” Chamber president Gillian McAuley and Vice-President Cathal Geoghan said in a joint statement. “We are on a downward trend and now is the time for action; to build confidence, protect jobs and encourage investment.
“While a functioning Executive will not solve all the problems, the in-tray of overdue reforms and resultant crises continues to grow. Over 170 days have passed since the election and within days we could be without local Ministers.
“That’s more time lost for decisions about spending and overdue reforms on health, climate change and planning.”
They said it is imperative that the local economy isn’t left in a prolonged period without government.
“We do not underestimate the political challenges but decisions need to be made. We have been here before and are all too familiar with life without an Executive. We cannot repeat the stagnation of 2017-2020. Today, we urge all our political stakeholders at Stormont and in Westminster to reach a resolution with the sense of urgency it demands.”
