The re-establishment of devolved government in Northern Ireland should lead to more strategic and long-term decisions being made which would bring greater confidence to the local business community, Mr Mark Durkan, Minister of Finance, said yesterday.
He said it was clear the business community had enjoyed the positive interaction at department and executive level during the 10 weeks of devolved government. The business community saw this as a "positive trailer" to what was possible under a devolved executive, he said.
"Regional business concerns and local business concerns were reflected more than was the case under direct rule," said Mr Durkan.
Two of the key challenges faced by the executive would be the creation of a programme for government and negotiating for a treasury spending review which would set the budget for devolved government until 2004.
"We hope that the various institutions can find their way under devolved rule," said Mr Durkan. "We didn't have the highway code fully worked out before."
He said the development of a programme for government had to be linked to an agreed budget and this had coincided with the treasuries spending review due for completion in June.
"This is the first spending review that has been done under the context of devolution," he said. "We hope to see what impact we will have even at this late stage."
Mr Durkan said the review would work out the balance of expenditure within the UK. On some issues the executive would make common cause with the Welsh and the Scots while on other issues the Northern executive would make its own case, he said.
Sir Reg Empey, Minister of Enterprise, Trade and Investment, hoped the potential for stability would generate confidence among the business community in Northern Ireland.
Sir Reg said he would move on several pressing issues including the situation at Harland & Wolff where financing still has to be negotiated for a recent contract win, the development of an all-Ireland tourism company and an all-Ireland electricity market.
He said he looked forward to making contact again with his Southern counterparts in relevant ministries and would evaluate how far the NorthSouth implementation body on business and trade had proceeded with its business.
Mr Sean Neeson, deputy chairman of the Committee of Enterprise, Trade and Investment and also Alliance leader, said the re-established executive could lead to a major upsurge in inward investment.
Mr Neeson said it would send out a positive message to potential investors that we could create a stable society. He said it was especially welcome at a time when there was a "major crisis" in the Northern Irish rail network.
Mr Mitchel McLaughlin, chairman of Sinn Fein, said there had been consistently strong support for the devolved assembly from the business community. He said the executive would be in a position to reorient education towards information technology and increase links between education and business.
Mr McLaughlin said he hoped the devolved government would in the longer term move towards harmonising the fiscal policies between North and South.
It is still unclear whether the DUP members of the executive will take their seats. A party spokesman said yesterday a fundamental head-to-toe review of the whole situation was still taking place.
