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Murphy urges support for all-Ireland approach to economic recovery.

23 May, 2011


Sinn Féin Chair of the Assembly Finance Committee, Conor Murphy MP, MLA (Newry & Armagh) has called for political and business support for an all-Ireland approach to sustainable economic recovery.

Conor Murphy said:

“While economic policy affecting the 6-Counties is exercised by the British Exchequer it will not be possible for the North to reach its full economic and developmental potential. The lack of power to influence the formulation of the economic policy that affects us most, severely restricts our ability to plan for the future and to design fiscal policies specific to our needs that will expedite economic recovery.
“The 6 County economy is distorted and abnormally dependent on subsidy and the public sector for employment. It is unsustainable by itself and cannot exist in isolation from the rest of the island, a fact which has been publicly conceded by British politicians as well as leading economists and business organisations.
“What is required is imaginative forward planning and attraction of alternative employment opportunities that would help to offset this dependency. From any perspective duplication and replication of service provision is wasteful and inefficient. For instance a single investment and job creation agency coupled with an equalisation of the tax regime would eliminate the counterproductive anomaly regarding inward investment, open wider opportunities to business throughout the island and generally contribute to growing the economy.” CRÍOCH

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