Economic analysts have advised that any possible drastic spending cuts under a future government, might put the private sector under duress, especially in areas of Britain which are traditionally reliant on public investment as the main source of employment such as Northern Ireland, and the Highlands and Islands of Scotland.
Though not every side of the political divide fully agrees with this view, as the Shadow Secretary of State for Northern Ireland Owen Paterson, has stressed the need to convert the Northern Irish economy away from its reliance on public spending, and "turn Northern Ireland into an enterprise zone" should the conservatives win the election.
This would be done by cutting business rates in order that new companies would be attracted to the area, whilst also facilitating new home based business ventures.
This seems simple enough however it does not cover the fact that during the recent downturn, many Northern Irish businesses and jobs were kept viable by the large number of public construction contracts which were awarded to Irish companies in recent years, which would have almost certainly never have been mirrored by inward investment.
Signs of recovery in the UK construction sector?
16 years ago
No comments:
Post a Comment