Stemming brain drain 'vital for North's future'

Stemming the brain drain and attracting top graduates from elsewhere is vital for the future of the North's economy, business leaders said today.

Delivering high quality jobs and helping workers out of the poverty trap were among demands voiced by the CBI the day before local politicians take power.

Devolved government is to be restored after months of negotiations with the Rev Ian Paisley’s Democratic Unionist Party sharing ministerial posts with Sinn Féin and other parties.

CBI Northern Ireland chairman Declan Billington said: “We have a limited amount of public resources which need to be used effectively to provide the high quality public services society expects.

“We must prioritise expenditure on ’growth enablers’ within our economy which will deliver the high quality jobs needed to replace those that will be lost to global competition, provide opportunities for those caught in the poverty trap and meet the increase in demand for work as our children enter the job market.”

The CBI said that if the economy was made a priority then social and environmental problems could be tackled.

“A key challenge for the Executive will be to ensure that Northern Ireland is an attractive place to live and work – creating, retaining and attracting talent will be a key priority,” Mr Billington added.

Investment conferences are to be held in Belfast this autumn and the US next spring.

British Chancellor Gordon Brown has announced an extra £1bn (€1.5bn) for infrastructure and jobs creation in Northern Ireland after the March 26 agreement to return to power was reached.

The Irish Government is to contribute to the package, which should improve north/south road links, hospitals and airports in the north west.

First Minister-designate Dr Paisley and his Sinn Féin deputy Martin McGuinness travelled to Edinburgh on Thursday in an effort to secure more concessions from Mr Brown.

The European Commission also promised support during a visit to Belfast by its president Jose Manuel Barroso on Tuesday.

A taskforce is to be established examining how Northern Ireland can maximise its share of funding.

About £600m (€880m) of European funds is to be devoted to Northern Ireland and the Republic’s border counties under existing schemes over the next six years.