Construction BUSINESS

Thousands of new construction jobs in the North are awaiting the release of money from the DUP’s deal with the Conservatives, industry experts have said. According to a report in the Irish Examiner, a £400 million windfall for infrastructure over two years has been agreed.

The key project will be at York Street Interchange in Belfast and will involve an underpass and bridge designed to improve links between the M1, M2 and M3. More than 100,000 vehicles pass through it daily. Accountancy firm BDO Northern Ireland partner Brian Murphy said: “There is a huge opportunity here that is pregnant that needs to be crystallised.”

The Conservatives signed an accord with the DUP after this year’s General Election produced a hung parliament. It promised major new investment in Northern Ireland in exchange for the smaller party’s support for the minority Conservative Government in key Westminster votes.

Business leaders have urged the extra money be speedily allocated for maximum economic effect.

Mr Murphy said: “Potentially thousands of new jobs in the construction sector are just waiting to open, subject to the release of these funds.”

The future of Stormont power-sharing remains mired in uncertainty and John Armstrong, Construction Employers Federation (CEF) managing director, said that was being reflected in a property sector where some people are unsure whether to proceed.

“The lack of a Northern Ireland Executive and the lack of a fully agreed budget have undoubtedly impacted on the tendering opportunities available in recent months.

“That is simply unacceptable, given that in reality there is a public sector capital budget there to be spent – and a budget that itself is growing year-on-year.”