Benefit Tribunals

Part of Northern Ireland Assembly – in the Northern Ireland Assembly at 4:00 pm on 14 February 2012.

Alert me about debates like this

Photo of Stephen Moutray Stephen Moutray DUP 4:00, 14 February 2012

I speak as a member of the Committee for Enterprise, Trade and Investment and as one who regards the economy as the single most important issue facing us at present. I pay tribute to the Finance Minister. We have had some excellent Finance Ministers since May 2007, and, given these austere times, the present Minister has perhaps had the greatest challenge, and he has shown that he is more than up to the task. In fairness, the Executive as a whole have displayed maturity and common sense in their approach to our finances and to the deployment of the block grant.

It is only right and proper that the economy remain at the heart of the Programme for Government. We have set some very challenging objectives and targets in our determination to do what we can to emerge from a prolonged period of recession. If we get it right on the economy and ensure efficiency in our public spending, we will be much better equipped to deal with many of the problems facing our society in, for example, key areas such as health and education.

The best foundation for Northern Ireland as it prepares to enter its second century is to reduce its dependence on the public sector and to grow the private sector wherever and however we can. According to the National Institute of Economic and Social Research, the recession is now over but we are in what was described last autumn as a depression. Recovery is painfully slow and very fragile, and it would not take much to knock us back. As part of the United Kingdom, we are called to play our part in national recovery, and, as part of the United Kingdom, we are being forced to make financial sacrifices that are not easy, especially for those who are struggling on lower incomes or are struggling even more because they have lost their job. Unemployment levels among our young people are of particular concern, and the number of unemployed people is at its highest for 15 years. However, despite the obvious difficulties, I am glad that we are part of the UK economy and not tied in with our struggling Southern neighbours or any of the other precarious eurozone economies.

We have limited economic and fiscal leverage, and we must therefore seize every opportunity. In that regard, perhaps the Finance Minister might update us on progress in relation —