(13 years, 9 months ago)
Commons ChamberWe need no lectures on the economy from the right hon. Gentleman. He was in the bunker with the right hon. Member for Kirkcaldy and Cowdenbeath (Mr Brown), and he left us with a bill of £280,000 a minute in borrowing and £120 million a day in interest costs. We are absolutely clear that, following the example of the Republic of Ireland, we will grow the revenue.
2. What recent assessment he has made of the state of the economy in Northern Ireland.
8. What recent assessment he has made of the state of the economy in Northern Ireland.
Northern Ireland Executive Ministers and I agree that the economy in Northern Ireland needs to be rebalanced. The Northern Ireland economy is too dependent on the public sector, for all the reasons that the House will understand. The consultation paper that we are publishing tomorrow and our ongoing work with Executive and Treasury Ministers will play a significant part in boosting the private sector and attracting investment to Northern Ireland.
In the last quarter for which figures are available, almost 22% of 16 to 24-year-olds were not involved in education, employment or training, at a cost of more than £250 million. What measures can be taken to rectify that?