Ramsey: NI risks creating a two-speed economy SDLP Foyle MLA Pat Ramsey has discredited the Draft Budget and warned that the assembly risks creating a two-speed economy that leaves the North West behind if it is passed. Speaking in the Assembly chamber, Mr Ramsey also highlighted the paradox in seeking to attract investment while cutting funding to higher education: “Entrenching regional imbalance is one of the most conspicuous failings of this Budget: yet again the North-West has been denied investment, infrastructure and job creation. A healthy, sustainable economy is impossible if investment begins and ends in Greater Belfast. “Northern Ireland risks creating a two-speed economy that leaves the North West behind. The Budget’s boasts of economic growth, rises in employment and increasing house price rises is a world away from the reality in my constituency and those around it. “Investment in the North West will not come if the Executive does not deliver on the much needed development of the A5 and Derry-Belfast train line. The Regional Development Strategy 2035 envisages Derry as the North’s principal City but we are seeing the entire region edging further and further out onto the periphery. “The inherent contradiction of this budget lies in investment in DETI whilst DEL is ruthlessly slashed. Northern Ireland is in the midst of a skills deficit so the promise of foreign investment and job creation rings hollow when universities and further education colleges are being drained of resources. Who will benefit from high quality job creation if our skills base is depleted? Cuts of 10.8% to Further and Higher Education would be simply untenable. “This budget does not deliver for the working poor and unemployed, it does not deliver for young people and it does not deliver for the Northern Ireland economy.” ENDS
Posted on: Mon, 12 Jan 2015 17:52:44 +0000
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