AQW 19725/17-22


Mr Stewart Dickson
Alliance Party
East Antrim


Tabled Date: 01/06/2021
Answered On Date: 30/06/2021
Priority Written: No


Question:
To ask the Minister for the Economy (i) whether references to potential opportunities in regards to Northern Ireland’s dual market access, were included in previous drafts of her Department’s 10X Economy policy document; and (ii) why these opportunities are not noted in the final document.


Answer:
The content of working drafts of policy papers including ‘10x Economy: An Economic Vision for a Decade of Innovation’ do not represent Departmental policy.
The ‘10x Economy’ paper refers to ‘Windows of Opportunity’ within which the Priority Technologies and Clusters will be aligned to boost inclusive, green economic growth. The paper notes institutional windows ‘that are created by public policy intervening in an industry or market to make drastic changes, e.g., the unique set of trading arrangements created from leaving the EU.’
Our economic vision is further developed through the ‘Trade and Investment for a 10x Economy’ paper which sets out the strategic priorities and high level ambitions that will shape our approach to trade and investment. This paper also refers to challenges created by disruption to trade via the Covid-19 pandemic and the UK leaving the EU and states that all opportunities must be exploited to deliver our 10x Vision.
In setting out a pathway towards a 10x Economy, we must recognise the challenges we face that are specific to Northern Ireland but also the global shifts which impact on our economy. Equally, we must acknowledge our existing strengths and opportunities that will place Northern Ireland amongst the elite small advanced economies.
The 10x Economic Vision paper represents our first step towards our ambition and further work is underway to develop policy and interventions which will recognise the challenges and opportunities we face today. The paper is the first in a series which will outline how we will make step changes towards an economy that is ten times better than it is today. To date, my Department has also published ‘Skills for 10x Economy' as well as 'Trade and Investment for a 10x Economy' mentioned above.