Wilson signals difficult decisions ahead

Finance Minister Sammy Wilson has underlined the difficult economic decisions that lie ahead for the Executive.

The Minister was speaking at a business lunch hosted by Newry Chamber of Commerce and Trade, themed ‘How will the assembly help Newry’s Economy in 2010?'

Speaking at the event, the Minister began by highlighting some of the recent progress in Newry. He said: “Newry is home to many of Northern Ireland’s finest and most successful companies. Despite the current economic climate, companies like First Derivatives PLC, Horse First and FM Environmental are growing and exporting to new markets. I would encourage other firms to follow their lead as exports provide the key to our economic future.”

Minister Wilson moved on to stress his ongoing commitment to ensuring the economy remains the lead priority in the next Programme for Government.

He continued: “It is imperative that we invest in a manner that generates enduring and tangible economic returns – this is the bedrock for prosperity and wealth. In a tighter financial environment, we as an Executive, need to take some difficult decisions about economic policy – which may mean moving resources from other less important areas.

“That’s a real challenge for us as an Executive. Rest assured that I personally will do all I can to ensure that the economy remains firmly as the number one priority.”

The Minister also raised the issues of bank lending for local companies and of Newry’s local transport infrastructure, including the A1 upgrade and the Feasibility Report into the Newry Southern Relief Road.

Mr Wilson concluded: “I have no doubt we are facing an extremely challenging time. I am, however, convinced that if we work together we can achieve change and bring Northern Ireland back to economic prosperity.”

Notes to editors:

1. The Newry Chamber of Commerce and Trade is a voluntary organisation representing in excess of 150 local businesses of varying sizes from all sectors of the business community. The Chamber represents its member’s interests by encouraging business growth, creating employment and promoting the Greater Newry Area as an advantageous location for business and tourist destination. Newry Chamber is a member of Chambers of Commerce Ireland and Northern Ireland Chamber of Commerce.
2. Media enquiries only to DFP Communications Office on 028 9052 7374 or 028 9052 7375. Out of office hours please contact the Duty Press Officer via pager number 07699 715 440 and your call will be returned.