Business

Failure to provide stable government 'not an option' - Bell

UP TO SPEED: Enterprise minister Jonathan Bell with Invest NI chief executive Alastair Hamilton and commercial director of HS2 Beth West. Below a representation of the High Speed 2 project
UP TO SPEED: Enterprise minister Jonathan Bell with Invest NI chief executive Alastair Hamilton and commercial director of HS2 Beth West. Below a representation of the High Speed 2 project UP TO SPEED: Enterprise minister Jonathan Bell with Invest NI chief executive Alastair Hamilton and commercial director of HS2 Beth West. Below a representation of the High Speed 2 project
By Simon Cunningham

FAILURE to provide stable government is "not an option" if Northern Ireland is to grow its economy and create significant numbers of jobs, the enterprise minister has said.

The DUP's Jonathan Bell was speaking ahead of a decision by his party whether or not to remain in the executive.

He was attending an event showcasing the opportunities for businesses in the north to bid for £10 billion of contracts from the HS2 railway - Britain's biggest every infrastructure project.

However Mr Bell suggested Northern Ireland's ability to continue to punch above its weight in attracting foreign investment and jobs was at jeopardy over uncertainty over the sustainability of the Assembly.

"Over the last number of weeks, quite literally I have spoken with hundreds of companies at different functions.

"All of them are telling me without exception that stable government is key to business success.

"If we can create stable government, then that creates confidence and confidence is exactly what the business sector needs to attract investment."

He said the opportunity to lower the rate of corporation tax - which is dependent on the implementation of the Stormont House Agreement - could create up to 40,000 new jobs and grow the economy by 10 per cent over 16 years.

"That's a prize worth fighting for. The public out there which we serve will not allow failure to be an option," he added.

The HS2 (High Speed Two) project is building a new high speed rail network between London and Birmingham and on to Manchester and Leeds with work due to start in 2017.

HS2 commercial director Beth West said: “To deliver a project of HS2’s scale and complexity requires the right companies with the right skills. I’m extremely pleased that so many local firms have already shown an interest and I’d like to encourage all Northern Ireland businesses large or small to get involved with HS2.

“Put simply, HS2 offers a rare opportunity to secure a step-change in Britain’s competitiveness, whilst promoting economic growth, creating thousands of jobs and driving regeneration.”