Construction key to economic recovery - McKay

Mr McKay stated that there is an opportunity to place construction workers at the forefront of economic recovery but recognised that firms in the sector are under increasing pressure, with the problems affecting Quinn Insurance also having a negative impact on the industry.

Mr McKay said: “The construction industry is experiencing its worst downturn in decades and North Antrim is one of the constituencies that has been hit hardest with over 1,000 ex-construction workers claiming unemployment benefit.

“We need to get these construction workers off the dole and working to ultimately better the quality of life for all local people.

“One way of doing this is by making businesses and homes more energy efficient. This will reduce overheads for firms and ensure that those worst off, particularly older people, do not have to spend as much on heating their homes. Energy efficient public buildings, especially schools will also result in savings to the public purse,” said Mr McKay.

“We believe that an increased focus needs to be placed on zero or low carbon, good quality, well-insulated, energy efficient affordable housing. This will not only reduce our emissions, it will decrease our levels of fuel poverty and create jobs in construction and conversion.

“Sinn Fin also believes that low, or zero carbon homes should be created where there is a concentration of fuel poverty.

“We should not overlook the knock-on effect that the ban on new business for Quinn Insurance will have on construction companies as well,” said Mr McKay.

“This could force local construction firms who have insurance with Quinn to ‘self-insure’, thus hitting struggling companies in the pocket, reducing cashflow in the short to medium term and impacting on operational capacity.

“I spoke with Quinn Insurance employees at the Assembly’s Enterprise, Trade and Investment Committee and am of the firm view that the ban on Insurance renewals should be lifted by the Financial Services Authority in the best interests of many businesses in North Antrim and beyond who are affected by this.

"Construction can play a pivotal role as an economic multiplier and it is important that banks and other lending institutions change their lending policies. The sooner they do this the sooner we can mount significant economic recovery,” Mr McKay said.