The South Down MP: "The construction industry makes an enormous contribution to the local economy in Northern Ireland through employment and the provision of hospitals, schools, housing and roads. It is vitally important that the budgetary allocation to Northern Ireland through the block grant from Westminster enables the renewal and re-building of the construction industry during this period of economic downturn.
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"The construction industry makes a valuable contribution to the Gross Domestic Product. It is the most effective focus for government investment in Northern Ireland due to its extended supply chain. For every £1 invested in construction output, £2.84 in total economic output is generated."
She continued: "These are not the only advantages. Due to its low import requirements, a high proportion of investment in construction remains in the local economy. It is labour-intensive, creating jobs for all skills levels but especially for those lower-skilled workers who are most vulnerable in times of recession. Finally, it provides long-term economic and social benefits to Northern Ireland by adding to its capital stock through the provision of new social housing, schools, hospitals, and colleges of further education."
(NS/GK)
