Public Infrastructure Investment Pledge By Dodds

Stormont Finance Minister Nigel Dodds has reaffirmed the Executive's commitment to investing in new public infrastructure to assist the construction and business sectors.

Speaking after a meeting with the Royal Institution of Chartered Surveyors (RICS), which covered a range of issues within the land, property and construction sectors, Mr Dodds announced an evaluation of the vacant rating policy in Northern Ireland.

"The Investment Strategy is designed to build the basis of our future prosperity and it is vital that we continue with the major capital building programmes already outlined," he said.

"Departments are therefore fully focussed on delivering the Investment Strategy. Substantial progress is being made with capital investment in the 08/09 financial year expected to be more than £1.5bn. This compares with £676m five years ago."

The Minister announced an evaluation of the policy on the rating of empty commercial premises, which will look at the effectiveness and impact of the policy over the five years it has been in place, as well as considering its effect during this current economic downturn.

"I am aware that the RICS is pressing for change in England and Wales but it must be borne in mind that I have put the interests of NI business first by not following the changes made there to vacant rating policy - where they moved to 100% liability as well as rating empty factories – precisely because of the impact it would have at this difficult time," said Mr Dodds.

Other items on the agenda included an update on how the department is strengthening building regulations in terms of energy efficiency and sustainability; to further reduce the amount of carbon emissions from buildings and the effective implementation of the Energy Performance Certificates (EPCs) regulations.

(PR/KMcA)