Economic competiveness damaged by political stalemate

The Centre for Competitiveness (CforC) has warned that Northern Ireland’s economic competiveness is in danger of being set back years by political stalemate.

The centre’s Chief Executive, Bob Barbour defined competitiveness as a set of institutions, policies and factors that determine the level of productivity of a country which in turn sets the level of prosperity that can be earned by an economy.

Barbour claimed that Northern Ireland’s productivity has constantly lagged behind the rest of the United Kingdom and is significantly well down the global league table. He also claimed that cooperative leadership among government, business and civil society is needed to improve productivity, establish sustainable growth and raise living standards throughout Northern Ireland.

The centre also warns that an increased dependency on the Treasury will condemn Northern Ireland to economic abyss and has called for our MLA’s to get back to the business of government in order to create a workable, long-term economic plan.

In an open letter to MLAs CforC stressed the importance of solving their differences quickly and warned that Northern Ireland is facing a bleak future unless politicians “can break the current deadlock and grasp the economic nettle and plan a way ahead.”