Mandelson pressed to help ease supply of bank credit in North

BRITISH BUSINESS secretary Lord Mandelson has been pressed by Peter Robinson and Martin McGuinness to help ease the supply of bank credit to Northern businesses.

The First Minister and Deputy First Minister made their appeal during talks in Belfast yesterday with Lord (Peter) Mandelson.

Mr McGuinness, welcoming initiatives announced by Ulster Bank on Thursday to assist local companies, said he and Mr Robinson discussed the need for more banks to back local enterprise.

“Whilst acknowledging the recent announcement by the Ulster Bank, we also discussed our concerns regarding the failure by some banks to support local businesses,” Mr McGuinness said.

“Despite the raft of government support that has been put in place, some local businessmen are still struggling to get access to credit. Lord Mandelson addressed these concerns and provided further details on the British government’s recently announced proposals to encourage lending to businesses.” Mr Robinson said their meeting allowed them to discuss the economic downturn and the troubles of the Presbyterian Mutual Society in particular.

“We presented our view that exceptional circumstances demand exceptional actions,” he said and he called for the British government to ensure that investors with the society have their savings fully secured.

Lord Mandelson’s visit to Northern Ireland also included a tour of local employers, including aircraft maker Bombardier, with Stormont Industry Minister Arlene Foster. She said Thursday’s announcement of the loss of 300 temporary workers at Bombardier’s four plants in Northern Ireland was “very regrettable”.

“Invest NI and the Department for Business, Enterprise and Regulatory Reform (BERR) in London are working closely with Bombardier to identify further business development opportunities.”

Following his visit, former Northern secretary Lord Mandelson said: “It is good to be back and to see the progress that has been made since I was last here.”

He said the British government was committed to do everything it can to work with the Northern Ireland Assembly and others “to give you the help you need, now and in the future”.