IoD calls for closer North-South collaboration
Date: 21 May 2010Closer collaboration between the Republic and Northern Ireland would help both economies face the challenges posed by the need to reduce national deficits, Joanne Stuart, Chairman of the Institute of Directors in Northern Ireland said last night [20 May 2010].
She was speaking to 250 guests at the annual North-South Dinner in Belfast City Hall, which brings together IoD members from both parts of Ireland.
Referring to the outcome of the UK general election, Ms Stuart said: “One thing that is clear is the need for a credible and urgent deficit reduction plan, something that IoD members from the South are only too well accustomed to. IoD strongly supports the commitment to a significantly accelerated reduction in the deficit, and we believe it needs to be tackled sooner rather than later.
“We also support the intention that the ‘main burden’ of deficit reduction will be borne by spending cuts rather than tax increases. Northern Ireland cannot escape its share of the national responsibility for reducing the deficit - and nor should it. Our politicians face hard decisions around public expenditure, and we hope to work with them to explore innovative ways of cutting costs, raising revenue and re-balancing the economy.
“One aspect that is missing in this debate is how we leverage our relationship with the south. We are very aware of the challenges that the Republic is facing – and is dealing with - and we have a unique opportunity to explore how we could work better on an all-island basis.
“While recognising that north and south remain independent jurisdictions, we believe the potential for even greater synergies exists across a range of areas including transport, health, energy, tourism and economic development.”
Guest speaker at the North South Dinner, US economic envoy, Declan Kelly, said: “I would like to acknowledge the historic contribution played by groups like the Institute of Directors in advocating political progress in Northern Ireland, but I also want to convey my admiration to its members for helping to keep the goal of economic growth at the heart of government. Their spirit of optimism, resilience, and strategic vision are the very attributes that will help Northern Ireland to capitalize on genuine economic opportunities as it moves into the next decade.”
Ann Riordan, President of the IoD in Ireland, echoed Ms Stuart’s desire for closer working on an all-island basis. She said: “Cooperation between North and South will be a key factor in strengthening our economies. By sharing the knowledge and expertise of our business leaders and leveraging the wealth of talent that exists on both sides of the border, we can develop strong and cohesive business networks, offering real and sustainable benefits to both economies.”
The event was supported by BT in association with Hewlett Packard Ireland.
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