In response to today’s budget announcement, Kirsty McManus, National Director Institute of Directors Northern Ireland, said:
“The announcement of funding for the Belfast City Region Deal is to be wholeheartedly welcomed, as is progress on a similar deal for the Derry City and Strabane District Council area.
“The £350 million announced for the Belfast City Region, when matched by local councils and other private funding is expected to give a much-needed economic boost of more than £800m to area.
“Confirmation that the deal can progress without a functioning Northern Ireland Executive provides welcome reassurance, given the significant number of key infrastructure projects within the region that may benefit from the City Deal.
“Meanwhile, the raising of the Annual Investment Allowance cap to £1million will provide business with a shot in the arm to support investment in a period of unprecedented uncertainty. This is a measure the IoD has been calling for for several years, and it should now bring some much-needed confidence for firms to make plans to boost their productivity.”