Political impasse forces key business issues off agenda

Business leaders in the North are becoming increasingly frustrated that the current political impasse has forced key economic decisions off the agenda as politicians' energies are directed elsewhere.

Many in the business community are apprehensive that important economic issues such as the Northern Ireland economic strategy and the decision on the North West gas pipeline will be shelved for the next six weeks.

The 24-hour suspension of the Northern Ireland Assembly over last weekend gives political parties six further weeks to elect a First and Deputy First Minister.

Although the Assembly is currently in recess for the summer, Northern Ireland Ministers and their respective departments returned to work yesterday as normal following the suspension.

The economic blueprint for the North, a plan that has been devised by business and government representatives, was expected to be published three weeks ago.

To date there has been no sign of the economic blueprint and it is believed that many of the business leaders involved in the process may consider walking away from the project unless decisions are now made by the Department of Enterprise, Trade and Investment regarding the blueprint.

The key minister in this department, Sir Reg Empey, is currently acting First Minister in Northern Ireland and many senior business figures believe that he may not be able to devote the necessary time to ensure the economic blueprint is agreed.

The results of a recent survey carried out by business analysts PricewaterhouseCoopers showed that the vast majority of Northern Ireland's core businesses would cut proposed investment if the Assembly is suspended or collapses.

More than 90 per cent of the North's key employers said that any change in the political status quo would have a direct impact on the economy.

Mr Stephen Kingon, managing partner of PricewaterhouseCoopers in Northern Ireland, believes that any threat to the perception of political and security stability could adversely impact business confidence and ultimately on investment.

According to Mr Eric Bell, chairman of the Institute of Directors in Northern Ireland, and Mr Timothy Quin, president of the Northern Ireland Chamber of Commerce, there is disappointment among the North's business community that a compromise could not be reached by political parties.

Mr Bell said he believes the suspension creates more uncertainty for both potential investors and existing businesses.