Latest news with #DepartmentfortheEconomy
Belfast Telegraph
7 hours ago
- Business
- Belfast Telegraph
‘Significant' increase in weekly hours worked in Northern Ireland: government report
Data from the labour force survey said there had been 30.4 million hours worked per week between February and April – an increase of 4.3% over the year. The Department for the Economy, which released data on the labour market on Tuesday, said the number of hours worked was 1.2% above the pre-Covid-19 position. It described the annual increase as a 'statistically significant' change, which brought the number of hours worked to the highest level recorded in recent times. But the labour force survey, from the NI Statistics & Research Agency (Nisra), also showed a rise in the economic inactivity rate to 26.9%, following an increase of 1.2 percentage points over the year. The economic inactivity rate, measuring the proportion of people aged 16 to 64 not working and not seeking or available to work, had also increased by 0.3 percentage points (pps) over the quarter. Tuesday's data also includes updates from HRMC, which said there had been 809,700 people in NI receiving pay through PAYE in May, a fall of 0.1% over the month but an increase of 0.8% over the year. HMRC PAYE data also said employees in Northern Ireland had a median monthly pay of of £2,385 in May 2025, a decrease of £21 (0.9%) over the month and an increase of £152 (6.8%) over the year. According to the labour force survey, the unemployment rate for February to April was 1.8%, which was up 0.2 percentage points (pps) over the quarter and down 0.3pps over the year. And the survey said the employment rate had dropped by 0.5pps over the quarter and by 1.0pps over the year to 71.7%. In May, the seasonally adjusted number of people on the claimant count was 38,200, or 3.9% of the workforce, a decrease of 1.5% from the previous month's revised figure. The May 2025 claimant count remains 28% higher than the pre-pandemic count in March 2020. And Nisra said it had received confirmation that 560 redundancies occurred last month. Over the year June 2024 to May 2025, 2,170 redundancies were confirmed, which was approximately 90% of the figure for the previous year (2,470). News Catch Up - Tuesday 10th June There were 780 proposed redundancies in May 2025, taking the annual total to 3,200, which was around 80% of the figure for the previous year (4,040). And in the quarterly employment survey, businesses reported that employee jobs increased over the quarter (1.0%) and increased over the year (2.1%) to 840,750 jobs in March 2025. There were quarterly increases in employee jobs within the manufacturing, construction and services sectors while there was a quarterly decrease in the sector of 'other industry'.
Belfast Telegraph
12 hours ago
- Business
- Belfast Telegraph
Avoiding scrutiny is not a good look for a government department
While on the Department for the Economy's website, I stumbled across its 2024/25 Business Plan End of Year Progress Report. I was pleased to note this timely, if limited, nod to openness and transparency. But let's be frank, had I not been searching for a piece of unrelated information, I would have been no wiser about performance. And judging from the lack of associated PR activity and, as a consequence, the absence of any public commentary, no one else would have been either.
RTÉ News
2 days ago
- Business
- RTÉ News
Downpatrick flood prevention scheme could cost £22.5m
A £22.5 million (€27m) flood prevention scheme has been recommended for the town of Downpatrick in Co Down, which was devastated by flood waters in the autumn of 2023. The proposal by a team of engineers is now being examined by Stormont's Department for Infrastructure to determine if it would be economically viable. The commercial heart of Downpatrick was deluged with water in late October and early November 2023, with a depth of almost 2.5 metres in some places. It was the result of a combination of heavy rainfall over a two-week period and high tides which raised the level of the Quoile river, which flows just west of the town. Some 50 businesses were immediately devastated by flood waters, while a further 50 suffered loss of business due to road closures at the time and a significant drop in footfall for months afterwards. Some of the businesses never re-opened. A £10m fund was established to support businesses impacted but less than half was paid out, with £5.3m clawed back by Stormont's Department for the Economy. The Department for Infrastructure commissioned a study by Amey Consulting to assess options for reducing the risk of a repeat. A computerised simulation of possible flooding scenarios in the town was used to help identify the best ways to do so. The study considered 14 possible schemes which were reduced to a shortlist of two that were considered technically viable. The preferred option, a combination of culverts, embankments, drains and pumps, would offer flood protection to 78 businesses and 28 homes with an estimated cost of £22.5m including maintenance costs of around £2m. A cost-benefit analysis suggests the scheme would prevent flood damage which would cost around £26m to repair. Stormont's Minister for Infrastructure, Sinn Féin's Liz Kimmins, has said further work will now take place to determine if the preferred option is economically viable. Several traders in the town have said that they are not optimistic that the money will be made available. Images of Ciara Douglas wading through knee-deep water with communion dresses over her shoulder went viral on RTÉ's TikTok page with more than 2 million views. Her business, 'Making Memories for You', lost much of its stock due to flood damage. Ms Douglas said re-opening left her "substantially" out of pocket when her business was allocated around £30,000 from Stormont's support fund, despite initially being told there could be up to £100,000 available. She questions whether a new £20m flood defence system is necessary, saying the risk of future flooding could be substantially reduced if the town's storm drains were regularly cleared and maintained and the Quoile river dredged to remove silt. "I just can't see that scheme going ahead," said Ms Douglas, adding, "there's a lot of other stuff that needs done around this town so they should concentrate on that and do the work that's needed on the drains and the river. "The problem is they just keep arguing over who's doing it, is it going to be DFI (Department for Infrastructure), is it the council's job, is it the river agency's? "You know, why don't they just get together and get it done. End all the, 'you have to do it, and you have to do it, and this one has to do it'. Next thing we'll all be under water again and that's really what will happen," she said. Mal McGrady from Downpatrick's regeneration working group met Ms Kimmins to discuss the proposal and he has concerns about where £22.5m for the scheme will be found. "We can't rely on chance, we have to have preventative measures in place," he said. "My understanding is that that (funding) has already been redistributed to other ministerial portfolios and has probably been spent at this stage, so we are probably looking at new money." Mr McGrady added: "I did make the point to the minister that if these works aren't done and we have floods and further floods the long-term cost is going to be significantly more than that, and that would be the death knell for places like Downpatrick." However, Paul McCartan, whose family has run a shoe shop in the town for almost a century, is more optimistic. The shutters on their shoe shop in Market Street were closed for many months due to the water damage and they operated from a temporary premises. The original shop is now re-opened, and he said business is good, despite lower footfall in the town since the flooding. But he said there is a constant nagging fear of a repeat. "Of course, you still live with a bit of trepidation, but you try and put it to the back of your mind otherwise you wouldn't get out of bed in the morning, so you have to be positive," Mr McCartan said. But having spoken to politicians about the proposed flood prevention scheme, he believes it will go ahead. He added: "I've been assured the money will be available and is available if they come up with the right plan. I'm confident that we will see these improvements. "The bottom line is that DFI want to secure the future of Downpatrick, they can't risk the town sinking, the county town going under water. They want to future proof the town."
Belfast Telegraph
4 days ago
- Business
- Belfast Telegraph
Trump's tariffs ‘could see 1,000 fewer jobs in NI over next 15 years'
The Department for the Economy has released modelling of the impact of President Trump's tariffs on Northern Irish exports, which model a range of scenarios. Since the US President's 'Liberation Day' in April, there has been concern around the world about the impact of US tariffs on global trade and national economies. From April 4, the US imposed a 10% tariff on UK goods entering the US. After signing the 'Prosperity deal' between the two countries, the tariff on UK steel has remained at 25%, avoiding the jump to 50% imposed on other nations. DfE said it had used a framework called 'Computable General Equilibrium' to model a variety of outcomes of the tariffs. Uncertainty has accompanied the tariff policy as President Trump has already instituted pauses for a number of them, and has hinted at the possibility of deals with individual nations. There is also uncertainty as to what industries will be hit, as Trump has long favoured tariffs on steel, for example, but other industries such as pharmaceuticals have hoped to avoid tariffs altogether. The 1,000 fewer jobs does not refer to job losses, but to how many fewer positions would be created as compared to a situation where the tariffs were not imposed. The baseline scenario would still result in 800 fewer jobs being created in Northern Ireland, with a general reduction to GDP of around £85m, or 0.15%. DfE has considered four different outcomes, which include a 10% tariff that excludes pharmaceuticals, a 10% tariff that includes that industry, a 10% general tariff with a 20% rate for pharmaceuticals and a 10% general tariff that excludes aerospace products. While the overall impact may be low, the department anticipates a greater hit to exports within industries, modelling a baseline scenario reduction in the machinery sector of 2.24%. In a scenario where pharmaceuticals are hit by a 20% tariff, the department anticipates that sector would fall by 4.77%. The conclusion to the DfE report highlights the potential impact on the regions within Northern Ireland. 'It is also likely that many of the businesses impacted will be in specific geographic areas e.g. Mid Ulster and Armagh, Banbridge and Craigavon council areas. 'This is due to the importance of the manufacturing and pharmaceutical industries to these areas, which will have implications for the regional balance agenda being taken forward by the department. 'In addition, the tariffs will negatively impact business investment over the long term which will serve as a headwind against efforts to increase investment and improve productivity.' The model is based on the impact to exports, and does not incorporate the changes to imports, or the effects of potential retaliatory tariffs from the EU. A tariff is an additional cost applied to imports, typically imposed on goods or services where they cross national borders.
Belfast Telegraph
6 days ago
- Business
- Belfast Telegraph
Boss of Belfast cleaning company receives eight-year boardroom ban for misconduct
The Department for the Economy said it had accepted a disqualification undertaking for eight years from Roberta Carson (42) of Clonduff Drive in Belfast over her conduct as a director of Fourwinds Cleaners. Her business was set up in July 2019 to provide cleaning services from a registered office at 2 Market Place, Carrickfergus. It went into liquidation on May 22 2022 owing creditors £18,000. In giving the undertaking, Ms Carson accepted unfit conduct including certifying in an application for a Bounce Back Loan that her company's annual turnover was £72,000 when it was estimated at £1,296. According to DfE, she knew or ought to have known that the turnover was significantly lower than the amount she had given in the application. Because of the low turnover, DfE said the company was not eligible to apply for the minimum Bounce Back Loan available. DfE said Ms Carson had also used the Bounce Back Loan to pay herself an increased salary when the company's turnover was only £648. That meant that she had caused or permitted the misapplication of company funds and/or acted in a manner to benefit herself rather than the company. Since the start of the new financial year, the department has now accepted two disqualification undertakings, it said. Bounce Back Loans were a form of government-backed lending for smaller businesses made available during the Covid-19 pandemic.
