THE outgoing boss of Invest NI has said the failure to secure the devolution of corporation tax powers to the north remains his biggest regret after ten years in the post.
Speaking in his final public engagement as chief executive on Wednesday, Alastair Hamilton confirmed that he will depart the economic support agency at the end of November.
Former British trade diplomat to China, Kevin Holland, was named as the next chief executive of Invest NI on Monday. The Bristol native will join the arm’s length body on October 21, and will officially take over from Alastair Hamilton in November after a transition period.
Speaking yesterday, the outgoing chief said: “Kevin has tremendous experience of working with the Department of International Trade, so he knows the space of trade, investment, economic development very well.
“As I look to hand over in the next few weeks, I think he is an ideal candidate to take over the work that we have done and then add some of those other areas where he has real strength.”
Reflecting on a decade in the role, Mr Hamilton spoke of his “tremendous privilege” to lead Invest NI. In the past ten years, the agency has played a role in 160 inward investors into the north, creating a total of 10,000 jobs.
“It’s more than I would have expected that we could have delivered whenever we started the job right in the mouth of the economic downturn in 2009,” he said.
Despite the ongoing political uncertainty over Brexit and the Stormont vacuum, Mr Hamilton, said the failure to see corporation tax powers devolved to Northern Ireland was his single major regret.
“The one disappointment as I leave, is that I fully expected that we would have had that corporation tax power devolved and would be able to see the first fruits of investment around having that additional tool. As we stand here today we don’t have it.”
The outgoing Invest NI boss and one-time economic adviser to former First Minister Ian Paisley, also spoke of his regret over the absence of an Executive at Stormont and potential for a no deal Brexit.
“I would much rather there were ministers here today. I would much rather our policy drive was fully connected with a functioning executive," he said.
“A no deal outcome is a bad outcome for Northern Ireland and for the businesses in Northern Ireland. We will try and do all we can to support the companies if unfortunately that’s where we end up."
