09/02/2009
Dodds Responds To Ailing Construction Sector
Stormont Finance Minister Nigel Dodds has pledged additional support for the local construction industry, with over £1.4bn earmarked for infrastructural projects this year.
The Minister, responding to the latest Construction Bulletin, said the Executive's Investment Strategy has increasing importance for the ailing sector.
Mr Dodds said: "The statistical bulletin confirms what we have been hearing from the construction industry over recent months, that they are facing challenging times in the current economic environment.
"The statistics show that the private housing sector in particular has suffered a noticeable decline, however when we look beyond the headlines, it is clear that the unprecedented levels of public sector investment are helping to alleviate at least some of the impact of the current economic climate."
The minister said investment in infrastructure has increased by around 25% from the 3rd Quarter of 2007. He said this illustrated the government’s continued commitment to the delivery of the Investment Strategy.
"During this financial year alone, it is expected that Government will spend in excess of £1.4 billion on infrastructure projects. As recently as 2003 Government spending was only £676 million," said Mr Dodds.
The Minister confirmed that he will be continuing to work with his Executive colleagues and construction industry leaders to ensure that the funds available for investment in infrastructure are fully maximised.
"In these difficult times this partnership is more important than ever as it is by working together that we can start to reintroduce confidence in this important industry," he added.
(PR/JM)
The Minister, responding to the latest Construction Bulletin, said the Executive's Investment Strategy has increasing importance for the ailing sector.
Mr Dodds said: "The statistical bulletin confirms what we have been hearing from the construction industry over recent months, that they are facing challenging times in the current economic environment.
"The statistics show that the private housing sector in particular has suffered a noticeable decline, however when we look beyond the headlines, it is clear that the unprecedented levels of public sector investment are helping to alleviate at least some of the impact of the current economic climate."
The minister said investment in infrastructure has increased by around 25% from the 3rd Quarter of 2007. He said this illustrated the government’s continued commitment to the delivery of the Investment Strategy.
"During this financial year alone, it is expected that Government will spend in excess of £1.4 billion on infrastructure projects. As recently as 2003 Government spending was only £676 million," said Mr Dodds.
The Minister confirmed that he will be continuing to work with his Executive colleagues and construction industry leaders to ensure that the funds available for investment in infrastructure are fully maximised.
"In these difficult times this partnership is more important than ever as it is by working together that we can start to reintroduce confidence in this important industry," he added.
(PR/JM)
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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.