Recession more proof we need local economic recovery plan, says Dickson

The UK economy suffering its first recession for over a decade is more proof Northern Ireland needs its own economic recovery plan, Alliance Economy spokesperson Stewart Dickson MLA has said.

The economic slump of 20.4 per cent between April and June – the biggest on record for the UK since records began – mean the UK has entered a recession for the first time since 2009. The Office of National Statistics said it was driven by lockdown, concentrating in April at its height.

“Alliance has previously called for a local economic package from the Executive. This is more proof of how much it is needed and how it can help to drive recovery,” said East Antrim MLA Mr Dickson.

“We are living through an unprecedented economic crisis thanks to COVID-19, one that will soon be amplified by an impending Brexit making worse what is an already perilous situation. We are likely to see prolonged economic challenges, with some sectors struggling more than others and more major problems could be coming down the line.

“The Executive needs to put in place measures to support reskilling, to address youth unemployment through a range of wage subsidies, and to encourage new jobs through accelerating the Green New Deal immediately. We need to do all we can to guard against a recession becoming a depression.”