Economic Growth: Northern Ireland
The question
To ask the Secretary of State for Northern Ireland, what assessment he has made of the potential implications for his polices of levels of economic growth in Northern Ireland.
Answered by Hilary Benn
Economic growth is the priority for this government, taking advantage of the UK’s unique strengths and untapped potential so we can put more money in people’s pockets, and our Industrial Strategy is central to that.
The Industrial Strategy will be published in June and will support the Northern Ireland Executive’s plans for growth. We have identified eight sectors that offer the highest potential for growth and are working alongside the Northern Ireland Executive, business leaders, and trade unions to ensure that the whole of Northern Ireland benefits from the Industrial Strategy. The latest figures from the Northern Ireland Statistics and Research Agency show that Northern Ireland experienced stronger growth than the United Kingdom as a whole last year.
At the Autumn Budget, the Chancellor confirmed the Northern Ireland Executive would receive a record £18.2 billion this year - the largest settlement in real terms in the history of devolution. This includes a £1.5 billion top-up through Barnett in 2025-6. It is now for the Executive to allocate this money in line with its priorities and this Government wants to work with the Executive to help promote Northern Ireland as a fantastic place to invest and do business.
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