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Tuesday September 29, 2009

Devolved Government Delivering Large Increase In Capital Investment

"The high levels of spend in recent years have only been achievable by the devolved administration recognising the importance of investment in infrastructure and working with the construction industry to deliver."

Northern Finance Minister, Sammy Wilson, has highlighted the huge growth in capital investment overseen by the Executive.

He was speaking after meeting with representatives from the Construction Industry Group for Northern Ireland (CIGNI).

The discussions come as the latest in a series of meetings with the construction sector, which included engagement with the Construction Employers Federation (CEF) and visits to a number of local construction projects.

Following the meeting the Minister said: "Despite the recent slowdown in private sector construction activity, the Executive spent a record £1,700 million on capital investment in 2008-09, with plans for a similar level of expenditure in 2009-10. This is nearly 70% more than what was spent six years ago during Direct Rule.

"The high levels of spend in recent years have only been achievable by the devolved administration recognising the importance of investment in infrastructure and working with the construction industry to deliver.

Mr Wilson continued: "The Executive recognises the importance of ensuring that the industry has information available on government investment plans.

"The recent launch of the Investment Strategy Information Website demonstrates the Executive's commitment to provide this information as agreed with the industry in the recently completed Construction Industry Forum NI Procurement Task Group Report.

"The website, which is to be updated regularly by departments, will provide the industry with information on the Executive's capital investment program, therefore enabling it to plan its workload. Access to this information is particularly important in the present challenging trading environment."

The Minister concluded: "I welcome the opportunity to meet with representatives of this important sector.

It provides me with the opportunity to discuss their concerns about the construction industry and to highlight the government's commitment to work in partnership with the industry to deliver the Investment Strategy for Northern Ireland (ISNI) and the recommendations set out in the Procurement Task Group Report."

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