Investment zone up to London but we’ll adjust policy to boost NW, says Murphy

SDLP economy spokesperson asked the Minister for the Economy Sinéad McLaughlin ‘to commit to ensuring that the British Government place an investment zone in the North West city region, given that investment zones are exactly the type of positive discrimination and incentive needed to deliver regional equality’.

She said the north west should be the first place that an investment zone for the North should go in order to meet the objectives in his economic vision and ‘demonstrate loudly and clearly the ambition for regional balance’.

Mr. Murphy responded: “On many occasions since I came into office, including last week when I made a statement to the Assembly, I have outlined my ambition for regional balance, particularly for the North West.

"A decision on an investment zone is a matter for the British Government, but we want to ensure that what we do through policy here creates regional balance.

“That is the vision that I outlined last week, and it is that vision that I intend to follow through on.”

The minister promised to adjust policy in order to change the way Invest NI ‘does its business’.

Under the Industrial Development Act 2002 the state-development agency’s functions can be ‘exercised in accordance with such directions of a general or specific nature as the Department of the Economy may give to INI’.

Mr. Murphy said: “We will adjust policy, and how Invest NI does its business, in order to deliver greater regional balance, with a particular focus on the North West.

“It, however, is not the only area that feels left behind by investment over the years. Many areas in the west and in the south feel equally left behind.”

The Economy Minister pointed to Ulster University’s Magee College campus as a specific area of interest.

“Nonetheless, there is a particular focus on the North West, and we view the expansion of Magee to 10,000 students as being a central part of that. It will require work across the Executive, but where we can effect policy in that regard, we certainly will,” he stated.

In response, Ms. McLaughlin argued that ‘placing an investment zone throughout the whole of Northern Ireland will not address the lack of regional balance effectively’ and that 'we need positive discrimination and incentives for places, such as the North West, that have been left behind for decades’.

Mr. Murphy said his department was limited to initiatives within its own remit.

“There are things that we can control and things that we may not be able to control. Where I can control policy and investment, and the actions of Invest NI in that regard, I will attempt to achieve the objective of regional balance, particularly for the North West.

"We will, of course, try to take advantage of whatever initiatives the British Government take, but they will be in charge of how those are set out,” said the Economy Minister.

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