Agenda and minutes

            Apologies for inability to attend were reported from Councillors Dudgeon, Dorrian, Hargey, Kyle, Magee, McAteer and O’Hara.

            No declarations of interest were recorded.

            The Committee was reminded that, at its meeting on 14th June 2017, it had agreed to hold a Special meeting to enable an informed and focused discussion on the potential economic impact of Brexit to Belfast.  The Chairperson advised the Members that, given the significance and complexity of the issue, the Committee had requested to hear from different perspectives on the potential impacts and opportunities to help ensure Belfast’s resilience and the delivery of the Council’s ambitions for inclusive growth.

            The Director of Development provided the Members with the context for the meeting and an update on the Council’s work to date, particularly in relation to two of the priorities within the Belfast Agenda, namely, growing the economy and working and learning.  He highlighted to the Committee the importance of remaining informed and engaged as the Brexit negotiations continued, to ensure that the Council’s strategies were relevant and that the Members were informed to ensure that the Council continued to deliver for the City’s future economic growth and success.

            He advised the Committee that Belfast had attracted approximately 20,000 inward investment jobs in the past decade and that Foreign Direct Investment was continuing since Brexit had been announced.  He explained, however, that it had been highlighted as a key risk to the region by WAVTEQ, with 70% estimated to be at risk.

            The Chief Executive outlined that inclusive growth was at the heart of the City’s ambitions for the future and that the Belfast Agenda was key in attaining those targets.  She stated that, while it was important to recognise that there would be challenges and opportunities, the Council needed to show leadership.  She highlighted that the Belfast Region needed to ensure that it worked to retain more of its potential talent and that it sought to attract back experienced talent with local roots to contribute to the City’s growing economy.

            In relation to the Belfast Region City Deal, she advised the Members that Belfast City Council was working with the surrounding councils to develop a cohesive Programme of Investment across infrastructure, innovation and skills.  She explained that a City Deal would be an economic game-changer, with the potential to bring £1million of investment, and would form a key part of the region developing economic resilience towards current and future challenges and opportunities, including Brexit.

            The Chairperson advised the Committee that Dr K. Hayward, Queen’s University Belfast, Dr. S. Nolan, Trademark, Dr. E. Magennis, Ulster University Economic Policy Centre (UUEPC) and Professor N. Gibson, EY’s Chief Economist in Ireland, were in attendance to present to the Committee and they were admitted to the meeting.

            The Chairperson advised the Members that apologies had been received from Mr. P. Mac Flynn, Nevin Economic Research Institute, who had been invited to attend the meeting but was unable to, due to a conflicting appointment.  The Members noted that he had submitted a research paper for the Committee’s information, entitled  ...  view the full minutes text for item 2.

            The Committee noted the acknowledgement responses which had been received from the Prime Minister’s Office, the Office of the Taoiseach and the Northern Ireland Office.