Derry retailers to lose out on Budget boost of millions due to lack of Executive

Mon, 29/10/2018 - 14:34 -- Editor

SDLP MLA for Mark H Durkan has expressed further frustration that businesses in Northern Ireland will miss out on a financial package due to be announced by Chancellor Philip Hammond to give small High Street retailers a £1.5bn boost because we have no Executive in place.

The MLA for Foyle said: “As the Exchequer is set to give £1.5bn to small high street stores as part of the Budget allocation, where Northern Ireland should receive a percentage of this through the Barnett formula, yet businesses here can’t avail of this without an Executive in place.

“Once again there will be a disparity between businesses in Northern Ireland and those across the water because of the democratic deficit here.

“Questions need to be asked when enough is enough. Businesses, schools, and our health service is suffering as our political deadlock trundles on.

“This money could have been helpfully invested into high streets across NI, including a much needed boost for places like Derry, to help struggling businesses via the usual Barnett allocation.

“The SDLP believe that any money that comes to the North as a result of this initiative should be ring fenced to be spent on the same thing here - protecting businesses. However, recent experience has shown that without an executive in place to make the decision to do that, it won't happen.”