The ambition of business leaders here to drive forward growth must be matched by politicians shifting gears to ‘full throttle economic policy delivery’.
That was the message from CBI Northern Ireland Chair Brian Donaldson at this morning’s CBI Annual Business Breakfast.
The latest CBI event to mark the business group’s 60th year was supported by strategic partner Northern Ireland Electricity Networks, corporate partners, Henderson Group and The Maxol Group at the Culloden Estate and Spa.
Other speakers included Derek Hynes, Managing Director, NIE Networks, deputy First Minister Emma Little-Pengelly MLA and Dr Caoimhe Archibald MLA, Minister for the Economy. CBI NI Director Angela McGowan chaired a panel with guests Caroline Reidy, Managing Director, The HR Suite, global digital leader, Mike Bracken CBE, and Sean McGuire, CBI Europe and International Director.
Mr Donaldson, CEO, The Maxol Group, called on Stormont and Westminster politicians to shift gears from strategies to ‘full throttle economic delivery’ and build on the UK-EU Common Understanding on trade and emissions cooperation, US trade deals, north-south trade successes and improved rail links between Belfast and Dublin.
He said: “These are serious times that demand serious solutions… Business should be the engine of growth, and I know that the firms in this room are ready to play their part – but confidence hinges on tangible results that people can feel in their daily lives.”
“It is time for clarity of vision, collaboration with business, and the courage to pull the right policy levers. The CBI nationally and locally is calling for policies that send strong signals – not mixed messages.
“Anything that adds cost or regulatory burden risks leaving us with an economic growth plan in name only. At Westminster the government needs to face up to the challenges. National Insurance Contributions and the National Living Wage have added enormously to the cost of doing business.
He said the Chancellor must deliver a plan for stimulating investment in the Budget without imposing a further taxes on businesses, adding: “because business simply cannot shoulder any more of the tax burden.”
Mr Donaldson also called on the NI Executive to send strong policy signals on its plans for decarbonisation, planning reform and publication of the Investment Strategy Northern Ireland (ISNI) to help remove investment barriers for business. He also repeated his earlier call for a Collaborative Water Taskforce to co-design a long-term funding model for Northern Ireland’s water infrastructure.
He concluded: “This economy has extraordinary strengths; world-class industries, global reach, and deep talent. If we harness those strengths and work in true partnership, I have no doubt that we can build a more resilient, dynamic NI economy.”
Derek Hynes, Managing Director, NIE Networks, said:
“Our strategy is to deliver a sustainable energy system for all in Northern Ireland so the CBI Breakfast is an important opportunity for us to join with the business community and to listen, so we can understand how we support our businesses in delivering their strategies.
“Over the next five years we will invest over £2bn so that our network has enough available capacity to support any expansion plans that businesses might have. Electricity demand growth at a domestic and large energy user level is stagnant in Northern Ireland, which is a bad economic indicator for our overall economy.
“We believe that by investing in the electricity network, we can help our businesses increase electricity demand which will reduce overall energy costs and constraints on wind and increase the speed of decarbonisation of the overall energy system.”
Martin Agnew, Joint Group Executive Chair, Henderson Group, said:
“We are very proud to support the CBI Northern Ireland Annual Business Breakfast as a corporate partner. This was an opportunity to strengthen collaboration across the region, driving progress for businesses through sustainable growth and innovation. The event also provided a great forum to hear from the CBI on their continued stakeholder engagement, helping to shape Northern Ireland’s economic policies.”