November 9, 2020
The North’s economy must be transformed as we tackle COVID-19 crisis – Archibald

Sinn Féin Economy Spokesperson, Caoimhe Archibald MLA, has said the economy in the North must be transformed as we tackle the economic crises induced by COVID-19.

The East Derry MLA was speaking following the publication of Ulster Bank’s October PMI Report which shows that the north’s economy is set to contract by around 15% this year amid the effects of the coronavirus pandemic.

Caoimhe Archibald said:

“The unfortunate side-effect of the necessary and urgent interventions to protect lives is a growing economic crisis.

“Along with demand for new orders decreasing for the third month running, there was a further sharp decline in export orders while redundancies due to COVID-19 rose.

“The belated extension of the furlough period until the end of March 2021 will provide some much-needed temporary relief for businesses, workers and their families.

“However, this economic contraction could have generational impacts for the island of Ireland, particularly in the north, where economic growth, productivity and wages are lower than anywhere else in these islands, and where economic inactivity is the highest.

“Brexit has also caused, and continues to cause, disruption and uncertainty for the local economy.

“What is clear however, is that in planning the economic recovery from COVID19, it is the time to really deal with the structural issues in our island economy and have a conversation about real economic powers for the North of Ireland.

“We cannot be passive bystanders and accept whatever this Tory government decides is right for Britain, to apply here.”

Follow us online

Latest Tweets

I welcome tonight’s statement from the Ceann Comhairle and her acceptance of the position set out by Sinn Féin and the combined Opposition - you cannot be in government and opposition at the same time.

This was a stroke too far on the back of a grubby deal and everyone knows…

One year ago today, history was made as I took up the position of First Minister.

Every day since, I’ve worked to ensure all our people are fairly represented and to meet the needs and aspirations of workers, families and communities.

I remain determined to do everything I can…

Sinn Féin National Chairperson Declan Kearney has welcomed the passing of a motion in the Assembly supporting greater north-south co-operation.

@DeclanKearneySF

👋 Meet your new Sinn Féin ministerial team.

Our strong Sinn Féin team in the Executive will work to continue leading positive change and improve the lives of workers, families and communities.

4

Load More

Statements