The Labour Party Annual Conference 2023
SME4Labour, eir evo & Labour Party Irish Society fringe: From Peace to Prosperity: How Northern Ireland can transform its economy over the next 25 years
🗓 Date: Monday, 9 October 2023
⏳ Time: 09:00
📍Location: SME4Labour POD (Meeting Room 22), ACC Liverpool, Kings Dock Street, Liverpool, England, L3 4FP
SME4Labour, eir vvo & Labour Party Irish Society fringe: From Peace to Prosperity: How Northern Ireland Could Transform its Economy over the Next 25 Years with Simon Hamilton, CEO of Belfast Chamber of Commerce; Kate Jennings, Policy Director at Logistics UK and Hilary Benn MP, Shadow Secretary of State for Northern Ireland. This panel discussion was chaired by Adam Payne, Politics Home.
Simon Hamilton highlighted the competitive nature of Northern Ireland in attracting international investment. He mentioned a sponsor, Eir Evo, that leveraged the region’s talent and excellent telecoms infrastructure to become a network partner for top companies in Northern Ireland. Hamilton also emphasized the significant progress made in achieving peace and social repair over the past 25 years, following the troubles. He acknowledged that Northern Ireland still faces challenges, with higher economic activity but also higher rates of people of working age with no qualifications and a greater prevalence of mental illness compared to the UK average. Communities most affected by the troubles continue to struggle economically and socially, often living in the shadow of paramilitary criminal gangs. Despite these challenges, Northern Ireland is laying the foundations for a modern, innovative, and inclusive economy to drive sustainable growth.
Kate Jennings, representing Logistics UK, outlined the organization’s role as a representative body for various sectors, including goods, supermarkets, manufacturers, infrastructure, and transportation in the UK. She highlighted the significance of Northern Ireland for Logistics UK, given its role in trade between Northern Ireland and the UK, as well as the UK and Ireland. Jennings emphasized the resilience of Northern Ireland’s trade, noting that trade numbers have returned to pre-COVID levels despite some disruptions due to the pandemic and EU exit. Logistics UK plays a fundamental role in the economy, contributing about 12% of all non-financial GVA and 8% of all jobs in the region. While acknowledging the challenges facing Northern Ireland’s productivity, Jennings called for a greater focus on logistics, recognizing its role as the backbone of the economy. She suggested that improved logistics partnerships and structural reforms, such as planning reform, could contribute significantly to the region’s economic growth and efficiency.
Hilary Benn emphasized Northern Ireland’s unique position as a bridge to freely access both the EU and UK markets. He encouraged businesses to invest in Northern Ireland, given its strategic advantage in serving these markets. Benn highlighted the importance of stability and certainty for investors and acknowledged the challenges related to the absence of a functioning government and the friction across the Irish Sea.
In summary, Simon Hamilton highlighted Northern Ireland’s competitiveness in international investment, citing Eir Evo’s success as a network partner. Progress in peace and social recovery was noted, alongside challenges in education and mental health. Kate Jennings, representing Logistics UK, underlined Northern Ireland’s role in trade, emphasizing trade resilience and the organization’s economic importance. Hilary Benn emphasized Northern Ireland’s strategic location, bridging the EU and UK markets, and the need for stability to attract investment, despite governance challenges and sea border friction.
