Stephen Farry MLA said: “This is a helpful and constructive contribution to the critical debate over managing Northern Ireland’s public finances. The Executive and Assembly should heed much of their advice.
“The companies in the private sector are well experienced in dealing with risk and a competitive environment, and can provide many lessons.
“There are two messages that stand out within these proposals. First, we should all take note that the business community are recommending that additional revenue must be raised, including through water charges. It is clear that continued populism is unsustainable and harms public services and economic recovery.
“Second, it is clear that there will be an impact upon staff in the public sector. There is no point in any politicians maintaining a state of denial. It is really critical at this stage that public sector employers and the unions get around the table to work out the best way to address the pressure in staff costs that least disturb the livelihoods of public sector workers.”