Northern Ireland Investment Summit

Baroness Ritchie of Downpatrick Excerpts

Thursday 23rd November 2023 Lords Chamber

[Lord Johnson of Lainston (Con)]

I must say that I am delighted that my friend the noble Lord, Lord Fox, from the Liberal Democrat Benches is rejoicing and celebrating the benefits of Brexit, because that is exactly what the Windsor Framework delivers. It puts Northern Ireland in a unique place to benefit precisely from the regulatory environments and frameworks that we have in this nation, while at the same accessing the goods and markets in the European Union.

[Baroness Ritchie of Downpatrick (Lab)]

My Lords, coming from Northern Ireland, I am well aware of the success of the investment conference and the large number of investors who came from the United States, along with the economic envoy, Joe Kennedy III. However, would the Minister agree that it would be much better if there was a restoration of the political institutions to underpin our local economy in Northern Ireland and provide that necessary confidence to potential investors? Will the Minister, along with Invest NI, investigate the need for a more equal distribution of those potential investors looking at sites in Northern Ireland with a view to further investments and job opportunities to avail themselves of the Windsor Framework and access to both markets?

[Lord Johnson of Lainston (Con)]

I completely agree with the noble Baroness on the need to come to a conclusion over forming a stable political environment for businesses to invest in Northern Ireland. I reassure her that the United States is not the only market that invests heavily in Northern Ireland. Across the world, particularly in Asian countries such as Japan, there is enormous interest in taking advantage of the skills in Northern Ireland. It is not simply the opportunities presented by the Windsor Framework; it is the opportunities presented by the people of Northern Ireland and their brains and brilliance.