SDLP: Closer north-south economic co-operation needed

The SDLP has said closer co-operation between north and south on the economy is needed in the year ahead.

The party spokesman on enterprise, Seán Farren said the North must break its over-dependency on the public sector, and strengthen its links with the South to match the rate of economic growth.

The contrasting growth rates, he said, reflect the huge differences in investment in the wealth creating sectors of both parts of the island.

In the South, he said, continued investment in manufacturing and services has been encouraged by favourable fiscal incentives which the North cannot match.

The result is an economy in the Republic that is 35 per cent dependent on the public sector, compared to 61 per cent north of the border.