Invest NI unable to tackle 'regional disparity'

A Derry City and Strabane District councillor has described the decision by Kieran Kennedy to resign from Invest NI as "significant".

Cllr Shaun Harkin (PBP) said: "It is significant that a prominent member of Invest NI, the former anti-trade union managing director of O'Neills, has resigned citing its continuing failure to prioritise addressing regional disparity.

"The independent investigation into Invest NI concluded with a devastating criticism of the organisation, enough to wind it up. The outcome was a big commitment to change its corrupt ways and prioritise tackling regional disparity," he added.

"However, Invest NI is not fit for purpose as an organisation to develop a fair economy or tackle regional disparity. It has been long controlled by DUP Economy Ministers but now that department is under Sinn Féin control.

"Invest NI embodies the ethos Sinn Fein has adopted as its main slogan, 'open for business'. This applies no matter how unethical a company is or how bad their impact will be on communities and environment.

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"Invest NI operates as a slush fund for big corporations, gifts millions to companies complicit with genocide, gushes over big polluters, doesn’t care if employers it supports are abusive to their workers and sees trade unions as an nuisance that will turn-off big money investors.

"The Stormont Executive, same as Westminster, is fully committed to a model of economic growth that concentrates more and more wealth at the top and that entrenches and widens poverty. The statistics for the North bear this out. More billionaires, more millionaires, more child poverty," said Cllr Harkin, who added Invest NI was the "vehicle that implements this model".

The Stormont Executive is still committed to a Thatcherite economic model that says wealth will eventually trickle down. But it didn’t, and it isn't, and it won't," said Cllr Harkin.

"Trickle-down economics just means corruption will rule.

"This is why the Stormont Executive has failed to provide a serious anti-poverty strategy and will fight against addressing regional inequality."