New Economic Realities Need New Plans - SF and DUP Failing

SDLP MLA Pat Ramsey has dismissed the Finance Minister’s assertion that monitoring rounds replace the need for a revision of the budget.

The Foyle Assembly member said the process, which reallocates unspent money, is little more than tinkering around the edges.

"Responsible governments and business all over the world are revising their budgets and strategies to deal with the recession. The world has changed radically in the last year. Countries and organisations that recognise and adapt to that change are likely to get through the recession and emerge as leaders in the future.

"People can not understand the resistance of Sinn Fein and the DUP to overhaul the budget, targets, plans and strategies that were published by the Executive, prior to the recession.

"The assumptions that the Budget, Programme for Government and Investment Strategy were based on no longer hold true. The targets for growth will not be reached. The money that was to be raised through selling public assets will not be raised. The target for new jobs will not be met.

"Northern Ireland needs to replace the existing strategy with a new for dealing with the recession and a new strategy for future growth. The SDLP has published a new discussion paper ‘New Priorities in Difficult Times’ which identified £400m of new money. Our document is not definitive and we will be presenting more documents detailing new strategies and investment into the future. This and future documents will demonstrate that the current strategies are wrong and should be replaced. They will demonstrate how money could be spent in ways that will give a much better return to the people of Northern Ireland."