Economy (Hansard, 19 July 1990)

§ 10. Mr. Hague
To ask the Secretary of State for Northern Ireland if he will make a statement on the state of the Northern Ireland economy and its future prospects.

§ Mr. Cope
I do not underestimate the longstanding problems of the Northern Ireland economy, but there has been a significant improvement in recent years. The latest figures show that, compared with a year ago, manufacturing output has risen by 5 per cent., the number of employees in employment in March 1990 had risen by nearly 4,000 and it was announced today that the number of unemployed people in June 1990 had fallen by 9,100.

§ Mr. Hague
Will my right hon. Friend emphasise that today's unemployment figures, which show a fall in male and female unemployment, are part of a continuing and healthy trend? Should not that be a source of encouragement and optimism to everyone inside and outside the Province who believes that it will have a prosperous future, irrespective of its various difficulties, as it increasingly shares in the economic growth of the United Kingdom?

§ Mr. Cope
I entirely share the sentiments expressed in the last part of my hon. Friend's question and I confirm that the reduction is part of a trend. The unemployment figures announced today were the lowest for just over eight years.

§ Mr. Molyneaux
Does the Minister agree that the unemployment figures could be further reduced if terrorists stopped destroying businesses, even in their own areas, and if paramilitaries stopped intimidating employers and employees, again in their own areas, while, with typical hypocrisy, complaining of the shortage of jobs?

§ Mr. Cope
I entirely agree with the right hon. Gentleman. Terrorists and their activities are most damaging. It is their intention to damage the economy and other aspects of life in Northern Ireland, and they certainly affect the figures that I have given. The greatest boost to the economy of Northern Ireland would be the defeat and ending of terrorism.

§ Mr. Ian Bruce
Has my right hon. Friend considered the economic success of the Republic of Ireland compared with Northern Ireland and how it has been affected by the decision that it took many years ago to fix the punt to other European currencies, as opposed to the pound floating more freely?

§ Mr. Cope
As some of the figures that I gave earlier are better than those for the Republic, my hon. Friend might like to reflect on his question. So far as I know, there is no intention to have a separate currency for Northern Ireland.