Page last updated at 22:36 GMT, Monday, 24 November 2008

86m pre-Budget boost for economy

Nigel Dodds
Mr Dodds said small businesses would benefit

Northern Ireland firms could benefit by up to 86.5m under measures announced by Chancellor Alastair Darling.

Stormont Finance Minister Nigel Dodds welcomed the Chancellor's plans to stimulate economic growth.

"In terms of capital expenditure we have the opportunity to accelerate up to 86.5m in the local economy over the next two years," he said.

"This measure provides the flexibility we need to respond to the needs of local firms experiencing difficulties."

Mr Dodds said the reduction in VAT was particularly welcome.

"In addition, the package of measures targeted at supporting small business will be of benefit to 132,000 firms in Northern Ireland," he said.

"The Chancellor faced a difficult task in balancing the need to kick start the economy against the recognition that the additional borrowing will need to be paid back in the future."

He said he also welcomed Mr Darling's decision to bring forward to January the increases in child benefit and the basic state pension.

"This will benefit over 300,000 young families in Northern Ireland and offer additional help to older people just when they need it most."

Print Sponsor


SEE ALSO
Hauliers face 'bleak Christmas'
24 Nov 08 |  Northern Ireland
Southern shoppers 'to head north'
24 Nov 08 |  Northern Ireland
At-a-glance: Pre-Budget report
24 Nov 08 |  UK Politics
Q&A: The PBR and you
24 Nov 08 |  Business
Darling unveils borrowing gamble
24 Nov 08 |  UK Politics


FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

BBC iD

Sign in

BBC navigation

Copyright © 2019 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific