Post referendum decisions ‘urgently required’

Nick Coburn President of NI Chamber of Commerce and Industry

The Northern Ireland Chamber of Commerce and Industry has said decisions trade agreements, the NI and Republic’s border, and business rates are now “urgent” following the European referendum.

Publishing its ‘Stability. Clarity. Action.’ document on July 7, the NI Chamber said the local business community needed stability for markets and business confidence.

The chamber also called for clarity on the timeframe for key decisions, and action to proactively support the economy at a sensitive time of transition.

Its document calls for the progression of “big decisions” on airport capacity, all-island energy and major construction projects such as the A5 and A6.

It also says there are “major business concerns” around the future of key projects that depend on an element of EU funding such as the European Social Fund, European Regional Development Fund, and Horizon 2020.

Commenting on the document, NI Chamber president Nick Coburn said: “Whilst our members’ views on the EU referendum are diverse, our energy is now focussed on overcoming the immediate challenges, and seizing the eventual opportunities, that transition will bring.

“Following a brief period of reflection, businesses want to understand when changes will occur in government, when Article 50 will be triggered, and what the timeframe for negotiation will be thereafter.”

Mr Coburn also called on the Northern Ireland Executive to continue to progress pre-referendum priorities, including growing trade, developing skills, driving down business costs, and rebuilding Northern Ireland’s infrastructure.

“Now that the referendum has concluded, business people want to see the NI Executive continue to make other decisions that will improve the business environment, stoke confidence and support growth such as clarity on trade agreements; the progression of the North/South Interconnector; the reform of business rates and access to the monies raised by the proposed apprenticeship levy,” he added.

“These and other decisions are urgently required to support firms that are working tirelessly and optimistically to deliver sales, profits and prosperity despite facing skills gaps, trade uncertainty, rising costs and a markedly softer economy.”