THE Confederation of British Industry (CBI) in Northern Ireland has unveiled a series of measures which it said will ensure the north doesn't endure a "decade of lethargic economic growth".
Among them, a call to allow universities to increase tuition fees while the CBI also believes some parts of the public sector estate should be sold off.
It also wants revenue raising measures to be introduced across "the whole range of our publicly owned asset base which will in turn enable new sources of funding to be sourced".
These and other ideas were discussed at a breakfast meeting yesterday which brought together more than 100 business leaders - and finance minister Máirtín Ó Muilleoir at Stormont Hotel in Belfast.
CBI chairman in Northern Ireland David Gavaghan said the north was "entering a crucial period".
"In recent years Northern Ireland’s economic growth has been consistently lower compared to both Britain and the Republic of Ireland," he said.
"The current trend is unlikely to change markedly in the future albeit there were many encouraging signs in the first half of this year. However there is greater uncertainty following the outcome of the EU referendum on the 23 June 2016. Establishing a new economic paradigm is fundamental - we cannot afford a decade of lethargic economic growth.
“The commitment by the Executive to reduce Corporation tax to 12.5 per cent from April 2018 is a critical step but more must be done."
Mr Ó Muilleoir told the audience he had a long term vision "where we have a robust economy, prosperous society and first class public services".
"Importantly, I also want to see equality and inclusion for all. I am committed to working with my executive colleagues and businesses to ensure we are getting our support mechanisms right and targeting investment that will create opportunities across society," he added.
Meanwhile, Michael Hall, managing partner at EY said businesses should get on with growing the private sector.
“As we continue to weather a period of uncertainty in Northern Ireland following the referendum, it is important to remember that little can be drawn from short term volatility in the market, as negotiations are expected to continue over the next two years and it is not clear what, if any, trade deals may emerge," he said.
"Businesses should continue to trade as normal, but ensure they remain resilient and agile so that they can adapt to the shifting landscape in both the short and long-term."
