Belfast Telegraph

Monday 22 September 2014

Northern Ireland's economy really needs helping hand

David Elliott
David Elliott

You can always expect a bit of plain talking when Vince is in town. The much-maligned Business Secretary rarely minces his words and has a tendency to probe economic areas others won't or aren't interested in.

Yesterday's visit to Northern Ireland proved just that with Mr Cable rightly pointing out that efforts to get lending flowing again from the main banks here isn't as effective as the rest of the UK. It was only an acknowledgement. There was no plan to sort it out, but it's the best we've had for a while on the issue.

In the meantime, Finance Minister Simon Hamilton said he's talking to the four main banks, the British Bankers Association, the Irish Treasury and Nama to see what can be done.

Co-ordinating action across such a broad range of organisations, each with a broad range of objectives, will surely prove a difficult task and Mr Cable would do well to offer a helping hand from Westminster.

The Business Secretary also touched on that old favourite corporation tax. He thinks our chances of having powers devolved are dwindling as the UK headline rate falls.

So Mr Cable, give us a hand with getting credit flowing and don't think we don't need an extra leg up to compete with our nearest neighbour.

COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting? customercare@belfasttelegraph.co.uk

Comment

More

Company Profiles

More

Help & Advice

More

People on the move

More