Focus On Leadership. Insist On Political Stability.
Updated: 27th November 2008
Confident leadership will steer Northern Ireland through the economic downturn argues Andrew Robinson, Managing Director of Lisburn’s Boomer Industries.
“When banks fail, it clearly doesn’t give confidence to business, but banks don’t build our businesses, they assist them. Businesses are built through innovation, adaptation and constant sales, by talent and determination. Competent leadership in these times of economic storm is more critical than bank bailouts; determined leadership is needed at the grass roots of our economy, in every head office, not just in Downing Street or Stormont.”
“A recent CBI outlook report suggested that the United Kingdom economy will not recover until the later part of 2009 - this sounds ambitious to me. Speaking with the chairman of one of NI’s enterprise boards, he said it may not recover until the fourth quarter of 2010; and I’m inclined to agree. In the meantime, we have to face the economic and social consequences of rising unemployment and a demoralised workforce.”
“At a national level, there probably isn’t a lot that the Government can do to create economic stimulus. The best government can do is alleviate the excesses of a turbulent financial environment. Our fiscal woes are global in essence, rather than national. Local and national ministers should get down to managing the economy as best they can, adopting a prudent approach, just as we have to do in business.”
“Prudence can change her clothes from time to time, but we should act only within the scope of our reasonable capacity to repay; not spending far beyond our capacity to repay in the medium-term. Government must balance its books; failing to do so is reckless electioneering, and while it may benefit political sentiment in the short-term, imprudent spending will restrict the steady evolution of our economy in the long-term.”
“In Northern Ireland, it would be more appropriate if local politicians would set aside an ageing political agenda and get on with invigorating the country. We need political stability here to ensure ongoing inward investment. What may seem like necessary point scoring and constitutional manoeuvring will add nothing to NI if we fail to develop a new crest of innovation, and a capacity to compete internationally; not just with existing products and services but vibrant clusters of entrepreneurs.”
“Political uncertainty is as economically crippling as a toxic financial environment. Our politicians don’t squabble in a vacuum; their voices are still reported by the international media. When a negative Bloomberg headline reflects uncertainty on investors’ monitors across the globe; or a magazine feature details the stalling political process; it becomes more difficult to sell our products overseas, and immeasurably more difficult to sell our region as a place to invest.”
Andrew Robinson, Managing Director, Boomer Industries
Andrew Robinson, Boomer Industries, Managing Director, is a Director of the Northern Ireland Centre for Competitiveness; Financial Director of the Lisburn Enterprise Organisation; and a member of the Economic Development Forum. He has served on the Board of Boomer Industries for seven years and as Managing Director for seven years.
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Contact Andrew Robinson: a.robinson@boomer.co.uk
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