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PM unveiling economic package for Northern Ireland PM unveils economic package for Northern Ireland
(35 minutes later)
An economic package to help create jobs in the private sector in Northern Ireland is being unveiled. David Cameron has unveiled an economic package to help create jobs in the private sector in Northern Ireland.
David Cameron has said Northern Ireland has an educated workforce but the private sector is not big enough. He said Northern Ireland has an educated workforce but the private sector is not big enough.
He said the economic package was crucial for the future. The Prime Minister said the economic package was crucial for the future.
First Minister Peter Robinson said: "There has been a gloomy backcloth for many generations but we can turn the corner. These measures will help us to grow the economy" In a statement Downing Street confirmed Northern Ireland would retain its existing European Union Assisted Area Status. This is seen as vital to enable Invest NI to offer grants to companies.
Further details of the economic pact include £20m investment plan for research and development projects with the focus on aerospace.
Another element of the pact will look at the potential to gift up to 350 surplus MoD houses and bases for use in shared future projects.
Mr Cameron also praised what he described as the "ambitions and laudable plan to rid" Belfast of its peace walls.