THE SDLP’s Sinéad McLaughlin has accused the DUP of being culpable for the mounting crisis at Invest NI.
McLaughlin pointed out that the DUP has been in charge of the organisation and its policy framework for the past 15 years.
The DUP prompted the latest funding crisis by walking out of the Executive, depriving the organisation of money.
She was speaking as it was confirmed that Invest NI is ceasing to fund any applications for financial support in the absence of financial certainty following the DUP’s collapse of the Executive and the failure to agree a Budget.
This comes on top of the huge hit to Invest NI funding from loss of EU funding and concerns over high levels of turnover in the organisation’s leadership.
Meanwhile, Invest NI appears to have been prevented from selling the attractive dual EU-UK market access NI now enjoys under the Protocol.
All of this comes not just after a decade and a half of Invest NI being shaped and led by the DUP, but as a direct result of crises engineered by the DUP.
Said the Foyle MLA: “It is clear that Invest NI is in crisis. It is equally clear that the DUP, which has dominated the strategy of Invest NI for a decade and a half, is responsible for the crisis.
“Our inward investment and business support agency is now crippled by financial uncertainty caused by two things: the DUP’s walkout from the Executive in the absence of presenting a Budget and the dramatic loss of critical EU funds as a result of Brexit.
“The DUP’s fingerprints are all over this fiasco but shamelessly, not only are they not taking responsibility – they are making things worse.
“The most obvious strategic aim for Invest NI should be to sell our dual market access under the Protocol, but DUP recklessness and selfishness is preventing that.
“Invest NI’s financial crisis is a particular blow to Derry.
“Two businesses have contacted me to complain that funding they expected for Assured Skills Training that would create new jobs in the city have not been confirmed, putting the job creation in jeopardy.
“The time has come for a radical overhaul of Invest NI and ideally for it to be taken out of the hands of the DUP.”
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