03/10/2003
NI business operating costs cheaper than rest of UK
A new report has said that Northern Ireland businesses have a distinct advantage over their neighbours across the British Isles as a result of operating costs.
The report, undertaken by PricewaterhouseCoopers, was unveiled on Friday by Economy Minister, Ian Pearson.
Whilst welcoming the report, the Minister warned that costs pressures which are increasing, as well as a need for a concerted and co-ordinated drive to improve the efficiency and competitiveness of local businesses, was concerning.
The study was commissioned by the Minister after meetings with local business community leaders who expressed concern about a range of cost pressures that were impacting upon competitiveness.
The consultants examined business costs experienced by local firms and compared them with the situation elsewhere in the UK and in the South based on the data currently available.
“Today's research shows how complex the concept of industrial competitiveness is. There are a wide variety of influences. The Government’s aim will continue to be to help foster an environment conducive to improved competitiveness and economic growth,” the Minister added.
Undertaken by PricewaterhouseCoopers, the report was commissioned in February 2003 after representations from business interests, concerned about the removal of industrial de-rating relief and business cost pressures in general
(MB)
The report, undertaken by PricewaterhouseCoopers, was unveiled on Friday by Economy Minister, Ian Pearson.
Whilst welcoming the report, the Minister warned that costs pressures which are increasing, as well as a need for a concerted and co-ordinated drive to improve the efficiency and competitiveness of local businesses, was concerning.
The study was commissioned by the Minister after meetings with local business community leaders who expressed concern about a range of cost pressures that were impacting upon competitiveness.
The consultants examined business costs experienced by local firms and compared them with the situation elsewhere in the UK and in the South based on the data currently available.
“Today's research shows how complex the concept of industrial competitiveness is. There are a wide variety of influences. The Government’s aim will continue to be to help foster an environment conducive to improved competitiveness and economic growth,” the Minister added.
Undertaken by PricewaterhouseCoopers, the report was commissioned in February 2003 after representations from business interests, concerned about the removal of industrial de-rating relief and business cost pressures in general
(MB)
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Northern Ireland WeatherToday:A sunny but frosty start for many. However cloud increases by midday with a few showers reaching the north coast, these mostly light but spreading inland this afternoon. Chilly. Maximum temperature 8 °C.Tonight:A rather cloudy evening with scattered showers. Becoming drier through the night with some good clear spells developing and a patchy frost away from coasts. Minimum temperature 0 °C.