NI Executive reaffirms commitment to Growth Deal investment
Mon, October 07, 2024
Causeway Coast and Glens Borough Council and Mid South West Region have welcomed a recommitment from the Northern Ireland Executive to its share of investment in their Growth Deals.
Pressure is mounting on the UK Government to lift its pause on the two Growth Deals after Executive Ministers agreed to stand by their pledges of £162m capital funding for the two Growth Deals and £100m Complementary Fund.
The Executive also reaffirmed its commitment to fund the A4 Enniskillen Bypass, as agreed in February 2024. As a result, the £43m funding commitment to the A29 Cookstown Bypass within the Mid South West Growth Deal is also secure.
The Executive agreed the move recommended by Finance Minister Caoimhe Archibald during a meeting on Wednesday 2 October. Growth Deal Councils were informed by the Minister in a letter on Friday. Minister Archibald also raised the Growth Deals with the Chief Secretary to the Treasury Darren Jones on Thursday. It is understood that the Secretary of State for Northern Ireland Hilary Benn will meet with Mr Jones later this week to discuss the issue.
Causeway Coast and Glens Borough Council’s Chief Executive David Jackson said: “We welcome the support of the Northern Ireland Executive in standing by its commitment to the Growth Deals and we now ask the UK Government to live up to the commitment that it made in signing our Heads of Terms Agreement in April to help to deliver a fundamental change to the Causeway Coast and Glens economy.
“The UK Government money will be invested in two of the council area’s largest innovation projects, which will increase skills and employability, create high value jobs and attract foreign direct investment, and will complement the NI Executive funded projects focused on regeneration and improved tourist infrastructure.
“These projects will not only benefit Northern Ireland but also strengthen the UK's reputation as a global leader in innovation and so we call on the Government to lift the pause on our growth and allocate the money in the Autumn Budget.”
Chair of the MSW Region Governance Steering Group, Kevin Savage said: “It is hugely reassuring that the Executive is standing by its Growth Deal commitments. Our Growth Deal is vital to boosting economic performance and it will provide the platform to support many of our businesses adapt to the challenges and opportunities from the need to be more innovative, environmentally and economically sustainable.
“We need all the promised funding to fully deliver transformational change and we now look to the UK Government with the simple message, lift the pause on our growth and recommit to supporting us now."
