Innovative approach to economic policy must be taken to boost economy
Following an evidence session to the Committee for Enterprise Trade & Investment from the chairperson and members of the Independent Review of Economic Policy, Sinn Fein MLA and Vice Chair of the Committee Jennifer McCann said:
"There is a need for the Review of Economic Policy to examine innovative and new ways in which economic policy is formulated and delivered. Invest NI needs to focus on supporting and developing local businesses including Small and Medium enterprises (SME's) and those from the Social Economy sector.
"There has been a policy from Invest NI to focus more on inward investment and not enough on local indigenous businesses.
"The return of start up grants and the formation of a dedicated fund to support SME's and Social Economy Enterprises will help secure those businesses and the jobs they deliver both now and in the future.
"We need to think outside the box and come up with an economic policy that will stabilise and develop local businesses. We need to deliver the Investment Strategy over the next number of years that will create the conditions for the growth of the economy and deliver measures to tackle poverty disadvantage and need.
"By ensuring social and environmental clauses are embedded in contracts which deliver Public Procurement Spending on works, services and goods extra aid will be provided in developing a vibrant economy and strong sustainable communities."