27 July 2010
NI economic forecast gloomy
Research commissioned by the Northern Ireland Council for Voluntary Action, from Oxford Economics and ERINI (Economic Research Institute of Northern Ireland) reveals the likely impact of public spending cuts on Northern Ireland.
NICVA Chief Executive Seamus McAleavey said:
"This is the most detailed external analysis yet of what is coming down the track and it makes for painful reading. The coming cuts represent the biggest challenge yet for our Executive and it is vital that the correct decisions are made. The choices made now will shape our economy and society for a generation".
The report examines three potential scenarios for public expenditure cuts:
- If made across the board cuts will amount to 8.4% over five years
- Ring-fencing health will mean cuts of 15% across other departments
- Ring-fencing health and education will mean 22% cuts on everything else.
Read the report in full at Cutting Carefully.
