Businesses Need A Functioning Executive - NI Chamber

Northern Ireland Chamber of Commerce and Industry (NI Chamber) has highlighted the importance of restoring the Executive to help businesses fulfil their potential.

The President of the NI Chamber, Cathal Geoghegan spoke to more than 900 business and political leaders at the 2023 President's Banquet in ICC Belfast.

Cathal Geoghegan said tackling the fiscal challenges in Northern Ireland is the greatest chance to "ensure stability through public sector and societal transformation for decades to come".

Speaking at the event Cathal Geoghegan said:

"The most recent budget set by the Secretary of State was uncomfortable reading but without discussion and answers about how Northern Ireland is funded from Westminster, it is a challenge we will face on repeat.

"At NI Chamber, we have long argued that a restored Executive must not only be capable of making tough decisions, but it must also be sustainably funded, recognising the issue of need.

"It's frustrating that for yet another year, at this time, indeed on this stage, we must ask 'when do we get our government back?'

"We are fast approaching 650 days without an Executive – that’s a milestone no one in this room wants to see. Because for all of us, that’s vital time lost for decisions about spending and overdue reforms on health, climate change, planning and so much more.

"As we've repeatedly stressed, a fully-functioning, stable Executive is our most urgent priority. But we must be clear, we want an Executive that lasts, that takes tough decisions and delivers on its priorities."

During his speech, Cathal proposed a partnership approach to the issues awaiting new Ministers. He stated: "Business understands the scale of the challenge ahead of you.

"We want to work in partnership with a new Executive, helping you to move beyond defining problems, to designing solutions. The membership of NI Chamber, the leadership represented here tonight, is an unrivalled resource and it’s ready to start co-designing and co-delivering on workable, innovative new ideas, right now."

Paul Murnaghan, Regional Director for BT Business in Northern Ireland said: "As one of Northern Ireland’s largest employers and as a successful global company, at BT we share the Chamber’s ambition, drive and commitment to support business renewal and growth for local companies in what continues to be a challenging business environment.

"Northern Ireland may be small in size but it continues to make a big impact on the global stage. It has never been more important that leading local businesses continue to come together to network at events like this, in order to collaborate and lead the way in innovation, forward thinking solutions and retaining talent here. This will help to ensure that we drive investment in a time of political and economic uncertainty in order to continue to rebuild and grow businesses and the local economy."