Robinson: Construction Industry vital to economic recovery

The Rt Hon First Minister Peter Robinson MP MLA has told an audience of construction industry affiliates that the local construction industry has a vital role to play in the local economy.

Addressing around 70 attendees at the annual dinner of the Construction Employers Federation (CEF), Mr Robinson stressed that the Northern Ireland Executive will do all in its power to support the construction industry through the current economic crises.

“The construction industry makes a vital contribution to the economy of Northern Ireland. Total output from the sector during the 12 months to September 2008 was in excess of £3.3billion, however, it has been particularly affected by the downturn.

“I am determined that the Northern Ireland Executive will do all in its power to reverse this trend. We cannot expect to capitalise on any economic recovery if we do not have a healthy construction industry with a solid skills base," he said.

Mr Robinson indicated that the Executive was supporting the local construction industry in this difficult period with continued public sector investment in infrastructure: “Despite the downturn in the property market and shortfall in expected capital receipts, during the 2008/09 financial year alone, it is expected that government capital investment will be in the order of £1.6billion. Public sector investment is set to continue to increase over the remaining years of the Investment Strategy. The gross capital investment planned for the next two financial years is intended to be well in the excess of £3billion. Planned expenditure under the Investment Strategy for Northern Ireland is almost £20billion over the 10 year period to 2018.”

Mr Robinson spoke of the Executive commitment to help local people and businesses during the present economic turmoil.

He said: “The Executive is doing everything it can to help support local people and business through the current economic turmoil. We recognise that, used intelligently, our local public expenditure can provide support and stimulus to local markets. The Programme for Government, Budget and Investment Strategy are the key pillars on which we will build our plans and tactics for weathering the economic crisis.”

Notes to Editors:

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