Stewart welcomes Belfast Harbour expansion plans but warns barriers must be removed
Ulster Unionist infrastructure spokesperson John Stewart MLA has welcomed Belfast Harbour's ยฃ1.3 billion Horizons masterplan as a major vote of confidence in the Northern Ireland economy, but warned that long-standing barriers around planning and land classification continue to hold the port back from realising its full potential.
Commenting on the announcement, John Stewart MLA said:
"Belfast Harbour's ยฃ1.3 billion Horizons masterplan is a major vote of confidence in the Northern Ireland economy. With the potential to support 5,500 construction jobs and generate an estimated ยฃ12 billion for the wider economy, it is exactly the kind of long-term, strategic investment our region needs from a port that already handles 70% of our seaborne trade.
"However, real barriers remain. The planning system continues to be a significant drag on infrastructure delivery, and the ONS classification of our Trust Ports as public corporations restricts their ability to borrow prudently to fund the very projects this masterplan depends on. Scotland resolved this issue a decade ago. Northern Ireland cannot afford to keep falling behind.
โI have challenged the Department many times in recent months on the continued delays to the Ports Bill, and I am pleased that it is finally now making its way to the Executive in early June and is expected to reach the Assembly just before summer recess. That timeline must be held to, so Belfast Harbour and the wider trust port network can get on with growing our economy."