Economic Growth 2025-01-15
2025-01-15
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Q1
Direct Answer
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Northern Ireland has a diverse economy with sectors such as agrifood, aerospace, shipbuilding, and cyber-security contributing significantly to its growth.
Northern Ireland’s economy has strong and dynamic sectors, from agrifood to aerospace, and from shipbuilding to cyber-security. Does the Secretary of State agree that Northern Ireland has a vital part to play in the industrial strategy?
It certainly does. My hon. Friend alludes to a number of the great strengths of the Northern Ireland economy. The deal with Harland and Wolff, which I mentioned earlier, is another sign of the Government’s commitment. Of course, the Northern Ireland economy has access to both the EU and the UK markets.
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Q2
Direct Answer
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UK Government funding for Northern Ireland's city and growth deals was confirmed in the autumn.
Does the Secretary of State share my optimism that UK Government funding for all four of Northern Ireland’s city and growth deals, confirmed in the autumn, provides a great basis for all of Northern Ireland to generate growth and opportunity?
I certainly do, and I have been greatly impressed by the commitment of those involved in developing the growth deals to investing in boosting economic growth in their areas.
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Q3
Direct Answer
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The House seeks updates on discussions regarding revenue generation to support longer-term financial sustainability in Northern Ireland.
Could the Secretary of State update the House on what recent discussions he has had with the Executive about steps to increase revenue, in order to help to deliver longer-term financial sustainability and grow the economy in Northern Ireland?
I have had a number of discussions with the Executive on that subject, and I am pleased to see that the draft budget for next year contains a plan to raise further revenue to meet the £113 million requirement that was part of the budget restoration agreement. It is really important that the Executive raise additional funds to meet the challenges of improving public services.
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Q4
Direct Answer
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Northern Ireland has dynamic tech and digital companies contributing to economic growth.
There are many dynamic tech and digital companies at the vanguard of the mission for economic growth in Northern Ireland. Does the Secretary of State agree that these industries are critical to Northern Ireland’s economic future? What steps are the Government taking to support these industries in growing to their full potential?
There have already been discussions with businesses in Northern Ireland about the part they can play in the industrial strategy. Cyber-security is a really good example of the huge strength of the Northern Ireland economy; many companies, including from the United States of America, are investing in Northern Ireland because of the skill and expertise to be found.
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