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Belfast Telegraph
27-06-2025
- Business
- Belfast Telegraph
£100 charge to home rates bills ‘could tackle NI's wastewater crisis'
The wider industry is warning that a £2bn funding gap for NI Water over the next eight years could see more than 6,000 homes unable to be built in the next three, while the worst case scenario could see a shortfall of up to 20,000 houses. 'Northern Ireland is no longer simply under strain – it is facing a full-blown crisis,' a fresh study says. The study has carried out by Grant Thornton and Turley Economics, on behalf of the Northern Ireland Chamber of Commerce and Industry (NI Chamber), Construction Employers Federation (CEF) and Northern Ireland Federation of Housing Associations (NIFHA). 'At the heart of this crisis lies a funding model which is not sustainable,' it says. 'NI Water is reliant on continuing subsidies from the Department for Infrastructure (DfI), without a significant stream of revenue against which it can address long-term infrastructure investment and leaving its finances subject to the limitations and uncertainties of the NI Executive's budget. 'Now, as the critical infrastructure investment needed approaches £3.9bn, we face a stark choice: continue to defer the inevitable or confront it with clarity and a commitment to long-term reform. 'The evidence is clear, continuing to rely solely on public subsidy is not viable, unless the UK Government steps in and injects significant new capital. We know this is highly unlikely without joint political pressure from all NI Executive parties. 'The scenarios modelled in this paper show that practical, fair, and less financially challenging solutions are possible – but all involve political choices. Whether through borrowing, rates-based levies, developer contributions, or innovative financing models, addressing the investment backlog is now unavoidable.' Among the suggestions for revenue raising are the idea of developer contributions – something which the Infrastructure Minister is considering as part of a recent consultation. However, the study says 'they are not expected to generate the billions of pounds required and could result in two-tier housing delivery'. It's also suggesting different models linking NI Water to our domestic rates bills. Northern Ireland is the only region in the UK in which households don't pay directly for their water. 'To enable NI Water to access private capital markets on favourable terms, a 'Hypothecated Infrastructure Levy' could be introduced that retains public ownership of NI Water, supports long-term strategic investment and minimises pressure on the NI Executive's budget,' it says. Over the next few years it says adding around £95 to an annual domestic rates bill could largely help address the £2bn deficit. 'Our most conservative estimate assumes a continuation of the current downward trend (around 12% reduction year-on-year) in new home completions and a continued failure to bring forward any of the necessary wastewater infrastructure projects within the next three years (the current Price Control period). This will result in a dramatic 4% reduction in the overall construction sector workforce in Northern Ireland (currently circa 60,500) by the end of 2027.' That could lead to 'rising rental costs' and 'housing stress', resulting in a loss of 1,690 jobs in the wider construction sector. 'Northern Ireland is no longer simply under strain – it is facing a full-blown crisis,' the report says. 'A crisis, by definition, is a critical juncture marked by an acute imbalance between demands and resources, where failure to act leads to widespread negative consequences. This precisely describes the situation NI finds itself in today. As with so many crises, the true cost of inaction will only be clear once it is too late.' Infrastructure Minister Liz Kimmins launched a public consultation on Developer Contributions for Wastewater Infrastructure, earlier this year. It proposes two options – voluntary developer contributions, to offset the costs of upgrading or replacing the wastewater infrastructure preventing new connections in the specific areas where they are unable to build, or compulsory contributions. But in an interview with Ulster Business, Infrastructure Minister Liz Kimmins are not on the cards, while she isn't sold on mutualisation as an option for NI Water. '[The issues have been there] as a result of years and years of chronic under investment,' she said. 'For me, there's not enough investment. 'The only options that have been presented to me, other than what I'm doing, are options that will lead to water charging… and that's not something that I am willing into do.' The latest report says while 'much of the immediate impact is now unavoidable… whatever harm can be ameliorated in the short term must be, and solutions agreed upon matched by commitments that provide certainty for the future'. 'The prize of addressing the problem, is an additional net £2.5bn Gross Value Added (GVA) added to our economy, stimulated by housing led growth and enabled by the delivery of our required wastewater infrastructure.'
Irish Post
11-06-2025
- Business
- Irish Post
GAA welcomes British Government's £50m allocation towards Casement Park redevelopment
THE GAA has welcomed the news that the British Government will contribute £50m towards the redevelopment of Belfast's Casement Park. The funding was announced today in Chancellor Rachel Reeves' Spending Review as part of £2.2bn in targeted funding to devolved governments. It is believed around £90m more is needed to meet the estimated £260m cost of the project. However, Ulster GAA President Michael Geoghegan welcomed today's news, saying 'there is now growing momentum and belief that Antrim's home and Ulster's provincial stadium is a step closer'. 'Critical opportunity' It was hoped that Casement, which last hosted a game in 2013, would be redeveloped into a 34,500-capacity stadium in time to host matches at Euro 2028. However, after little movement on the project, Northern Ireland Secretary of State Hilary Benn said in September that it would not be appropriate to provide funding to have Casement ready in time for the tournament. Today's announcement has renewed momentum for the project but the GAA added that 'there is much more work to do'. "We welcome this important and significant investment and we thank the Secretary of State, Hilary Benn, the Chancellor of The Exchequer, Rachel Reeves and the UK Government for their positive and generous contribution to ensure that our provincial stadium at Casement Park is finally realised," said GAA President Jarlath Burns. "From taking office, the Secretary of State has been clear that Casement Park needs to be delivered. "He recognised the GAA's commitment and goodwill in sharing venues for the benefit of everyone in our society, dating back to the Maze Long Kesh project, and more recently offering Casement Park as a Euro 2028 Championship venue. "His support and that of the UK Government now represents a critical opportunity to finish this NI Executive flagship project, delivering the last remaining stadium of the 14-year Regional Stadia Programme, and helping to leave a lasting legacy not only for the Gaels of Antrim and Ulster, but for all of society. "We know, however, that this is not the final piece of jigsaw and there is much more work to do. "The GAA will engage directly with the NI Executive and the Department for Communities to ensure that all parties actively pursue, and secure, a full funding package that will deliver upon the GAA's strategic stadium need." 'Historic venue' As well as today's funding allocation, it is believed Stormont will contribute more than £60, the GAA will pay £15m and the Irish Government will provide around £43m. However, with around £90m more required, Tánaiste Simon Harris said today that he would raise the matter with the other parties involved. "I welcome the British government's announcement today of £50m for Casement Park, as part of the UK Spending Review," he said. "The Irish Government has long supported the redevelopment of Casement Park in Belfast as a landmark sports infrastructure project. "In February 2024, we made an early commitment from the Shared Island initiative of up to €50m for the redevelopment of Casement. "We underlined our commitment at that time to support the GAA in progressing this project in partnership with the UK and NI authorities. "I will now engage with all these partners to deliver a redeveloped stadium. "The last match hosted in Casement was well over a decade ago and it is past time for the redevelopment of this historic venue to get underway." Two months ago, a protest over the delay in the project was held before Antrim's Ulster SFC quarter-final against Armagh, which had to be held at Belfast's Corrigan Park, which has a capacity of less than 4,000.. See More: Casement Park, GAA, Hilary Benn, Jarlath Burns, Rachel Reeves
Yahoo
11-06-2025
- Business
- Yahoo
Government's £50m Casement Park pledge a 'crucial milestone'
GAA president Jarlath Burns has welcomed the government's "important and significant" contribution for the redevelopment of Casement Park, but added it is not the "final piece of the jigsaw". A £50m commitment for the west Belfast stadium project was confirmed as part of chancellor Rachel Reeves' Spending Review on Wednesday. Rebuilding the stadium, which has been derelict since 2013, will cost approximately £260m, of which £120m was already in place from the Stormont Executive (£62.5m), the Irish government (about £43m) and the GAA (£15m). That still leaves a shortfall of around £90m, although the GAA previously acknowledged it will need to increase its commitment. In its statement, the GAA said Wednesday's announcement was a "crucial milestone that will be a key catalyst" in redeveloping the stadium. "From taking office, the secretary of state (Hilary Benn) has been clear that Casement Park needs to be delivered," said Burns. "He recognised the GAA's commitment and goodwill in sharing venues for the benefit of everyone in our society, dating back to the Maze Long Kesh project, and more recently offering Casement Park as a Euro 2028 Championship venue. "His support and that of the UK Government now represents a critical opportunity to finish this NI Executive flagship project, delivering the last remaining stadium of the 14-year Regional Stadia Programme, and helping to leave a lasting legacy not only for the Gaels of Antrim and Ulster, but for all of society." Burns added: "We know, however, that this is not the final piece of [the] jigsaw and there is much more work to do. The GAA will engage directly, with the NI Executive and the Department for Communities to ensure that all parties actively pursue, and secure, a full funding package that will deliver upon the GAA's strategic stadium need." Ulster GAA president Michael Geoghegan said: "With this announcement there is now growing momentum and belief that Antrim's home and Ulster's provincial stadium is a step closer. "We look forward to the project getting started and hosting some of the largest, most exciting and significant games on the island of Ireland while also significantly adding to economic recovery and regeneration in Belfast and beyond." Casement Park: All you need to know about the stadium soap opera
The 42
11-06-2025
- Business
- The 42
UK government pledges £50 million for Casement Park redevelopment
THE UK GOVERNMENT has allocated £50 million to support the redevelopment of Casement Park in west Belfast. The money was included in the Chancellor of the Exchequer Rachel Reeves' spending review, which outlines the Government's spending plans over the coming years. Northern Ireland First Minister Michelle O'Neill said it is now time to get the GAA stadium built. Plans for a 34,000-capacity stadium have been mired in uncertainty because of a major funding gap of around £150 million. Advertisement The Government announcement includes £50 million to support the stadium being developed over four years. In a statement, a spokesperson for the GAA said that the British government's support was a recognition of the long-standing commitments given to redevelop Casement Park. The GAA had offered the stadium to be used for the Euro 2028 Championships but the long-running row over who would pay for it dashed Northern Ireland's hosting hopes. GAA President Jarlath Burns described the new funding as 'generous' and that it shows Secretary of State Hilary Benn's recognition of the GAA's 'commitment and goodwill' in sharing venues 'for the benefit of everyone in our society'. 'His support and that of the UK Government now represents a critical opportunity to finish this NI Executive flagship project, delivering the last remaining stadium of the 14-year Regional Stadia Programme, and helping to leave a lasting legacy not only for the Gaels of Antrim and Ulster, but for all of society,' said Burns. 'We know, however, that this is not the final piece of jigsaw and there is much more work to do. The GAA will engage directly, with the NI Executive and the Department for Communities to ensure that all parties actively pursue, and secure, a full funding package that will deliver upon the GAA's strategic stadium need.' Michael Geoghegan, President of Ulster GAA added: 'For too long GAA members, players and supporters have been left behind with frustrations growing on commitments given but not delivered. With this announcement there is now growing momentum and belief that Antrim's home and Ulster's provincial stadium is a step closer. 'We look forward to the project getting started and hosting some of the largest, most exciting and significant games on the island of Ireland while also significantly adding to economic recovery and regeneration in Belfast and beyond.' Written by Press Association and posted on
Belfast Telegraph
13-05-2025
- Business
- Belfast Telegraph
First Ministers praise Northern Ireland businesses' resilience at Top 100 Companies launch
Michelle O'Neill and Emma Little-Pengelly were addressing a breakfast event launch the publication and mark its 30th anniversary. This year's list includes businesses which collectively employ around 10% of the private workforce in Northern Ireland, and together generated over £2bn of revenue. The joint heads of the NI Executive attended the event at the Titanic Hotel in Belfast's Titanic Quarter. First Minister Michelle O'Neill opened by describing the task of growing the economy as a 'partnership' between government and the private sector. 'This is about how we can work with you, how we can take all the challenges that we have and create the opportunities that we want to see for every single person who lives here.' She paid tribute to the resilience of businesses here in an 'economic landscape' that includes inflation, trade wars and changing regulations. 'We're going to keep having to navigate our way through that. 'Quite frankly, you'll wake up one day and you don't know what you're going to read with a Twitter post that morning announcing a new trade deal or new tariffs. 'It is very clear that all we can do is deal with what we know, deal with the implications of these things and try to work our way through that.' Emma Little Pengelly said that, despite our tendency to talk ourselves down, the Northern Irish economy has a lot to offer the world. That was evidenced by sporting events such as the North West 200 and creative awards such as the Bafta best drama win for Blue Lights, which is filmed in Belfast. 'Our creative industries have become a global success story, showcasing Northern Ireland as a hub for film, TV and digital content. 'When we look over just the last number of weeks, our North West 200 at the weekend, Rory McIlroy's success, Blue Light's success at the Baftas: these are all shining a light on the positive developments in this place that we call home.' The enormous changes in the NI economy during the 30 years of the Top 100 were discussed by Maureen O'Reilly, the independent economist who has compiled the list since taking over from the late John Simpson in 2023. 'In 1996 the unemployment rate was 11% in Northern Ireland, its now 1.5%. Public sector jobs were about 37% of all jobs, and that's down to about 27% now... 'Inflation has cooled to 2.5%: it's hard to remember it was four times higher than that in 2022, just four years ago.' Ms O'Reilly raised some areas of difficulty for the economy here, such as the ongoing issue of low productivity in the private sector, and the uncertainty caused by the US's approach to tariffs and free trade. Reflecting on the list, she explained how the profit threshold to enter the Top 100 had gone up from £6.2m to £7.6m, and that 39 new entrants came into the list, with 39 exits. Richard Gillan, managing partner of Grant Thornton Northern Ireland, said: 'Tuesday's launch of the Belfast Telegraph Top 100 was a celebration of the ambition and innovation that defines Northern Ireland's business community. "It was fantastic to come together with so many of our region's most influential leaders and organisations to recognise the outstanding contribution they make, not just to the economy, but to society as a whole. 'At Grant Thornton, we believe in creating opportunities to celebrate business success. Events such as these not only acknowledge achievement, but also strengthen connections, spark new ideas and reaffirm the importance of collaboration in driving sustainable growth. 'We are delighted to once again partner with the Belfast Telegraph, and we look forward to continuing to support the organisations who are helping to shape a more prosperous Northern Ireland.'
