The representatives of the Chamber spoke to the Minister about their concern over the current ‘credit crunch’ and their plans and ideas to continue to keep Belfast buzzing.
Specifically addressing concerns over the banking crisis, the Minister said:
“Northern Ireland banks are regulated by the Bank of England and the Financial Services Authority in exactly the same manner as all banks in the UK.
“The Irish Government are seeking to protect the integrity of their indigenous banks. The fact that some of these banks have branches in Northern Ireland isn’t unique. For example, loans and savings in UK Post Office accounts are similarly underwritten by the Irish Government.
“It should also be stressed that banking regulation is determined by the Bank of England, HM Treasuryand the Financial Services Authority. It is not within the remit of the NI Executive (similarly in the Scottish and Welsh Administrations).”
“The focus of the Chamber on economic growth mirrors the top priority for the Executive which has placed growing a dynamic and innovative economy at the centre of its Programme for Government.”
Mr Dodds praised the success of economic initiatives instigated by the Belfast Chamber of Trade and Commerce. He said:
“At this time of increasing economic concern the Belfast Chamber of Trade and Commerce continues to promote commerce and industry in the city. They are creating opportunities for employment and trade as well as representing their members interests.
“The growth in the economy, tourism and trade in Belfast is an example to towns and cities across Northern Ireland.”
Notes to editors:
- 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 076 9971 5440 and your call will be returned.
- The Belfast Chamber of Commerce and Trade is a voluntary organisation representing local businesses of varying sizes from all sectors of business community. The Chamber represents its members interests by encouraging business growth, creating employment and promoting the Greater Belfast Area as an advantageous location for business and a rewarding tourist destination. Belfast Chamber is a member of both the Northern Ireland Chamber of Commerce and Chambers of Commerce Ireland.
