LEADING business organisation, the CBI has backed calls to address shortcomings in university funding to help address the north's brain drain.
Speaking after the CBI's regional council meeting in Belfast yesterday, Northern Ireland director, Angela McGowan said we must invest in our young people or pay the price.
“One of the reasons we’re so keen to see an end to Brexit negotiations is so we can get back to concentrating on the domestic agenda – one that’s been all too neglected in the past couple of years.
"If we’re serious about building a modern, forward-looking economy here in Northern Ireland then ensuring a sustainable, long-term, funding solution that supports our universities should be top of the list of priorities," Ms McGowan said.
"Universities aren’t just powerhouses of innovation and skills, they’re major economic players - Queen’s University alone delivers a staggering £1.9 billion a year in economic benefits to the UK.
“We need to make sure that our best and brightest see Northern Ireland as an attractive place to live, work and study. We face a simple but stark choice: invest now in our young people or pay the economic price in the medium and long-term," she added.
At present there are around 13,500 students from the north studying in Britain, with more than 5,000 school leavers departing our shores each year to pursue higher education.
Approximately 36 per cent of Northern Ireland students leave to study in England, Scotland or Wales, compared to just 3.1 per cent of school leavers in the Republic
At yesterday's meeting, held at Queen's University, business leaders unanimously backed calls to address shortcomings in university funding and to deliver a sustainable long-term funding solution, particularly as employers across Northern Ireland face an unprecedented skills gap.
Almost all local CBI members (96 per cent) believe the north is facing a growing skills shortage, while 83 per cent have stated that demand for individuals with high skills will increase over the next three to five years.
