Political and social stability benefits the local economy

Benefits for the economy will flow from political and social stability according to the Minister of Finance and Personnel Mark Durkan.

Speaking at the 6th Annual Northern Ireland Economic Conference, in Ballymena on October 10, Mr Durkan told delegates: “The greatest benefits for our economy will only flow when we have political and social stability. That is a lesson that has surely been hard learned.

“If we are genuine about wanting a prosperous economic future then we must do all in our power to create the conditions to make that possible. This is a simple truth that holds whether the external economic climate is favourable or not.”

Turning to the tragic events in America on September 11, the Minister said: “One month on from the terrible outrages in America we are still trying to come to terms with the consequences, both human and economic. These events have cast a lengthening shadow over the world economy. They have brought home to us in the starkest way just how interconnected industries and economies have become. The events of the 11 September have in many instances acted as a catalyst to exacerbate what were already disturbing trends in many sectors.”

Mr Durkan concluded: “I recognise that we are a very small and open economy and there may be very limited scope to mitigate the effects of an economic downturn. But I believe that our effectiveness will be maximised if we have stable and working institutions elected by and responsible to the entire community – if devolution is allowed to continue and develop – for when it works, it works well.” (CD)