LIDL was given the go ahead to redevelop the former Carryduff Shopping Centre site in Co Down in a project that is expected to eventually support 135 jobs. The German supermarket chain secured permission in December to demolish the remaining buildings on the Carryduff site and build a new £6 million supermarket. But Lidl won't stop there, with plans green-lit for four additional retail units and a drive-thru coffee shop will take its total investment to around £10m.
STORMONT should consider further revenue-raising powers such as income tax and excise duties on alcohol, tobacco and petrol. the independent Fiscal Commission for Northern Ireland said. Its interim report ruled out full fiscal autonomy for the region, but said there is a case to consider the additional devolution of some tax-setting powers.
THE formal sign off of a "monumental" £1 billion city deal for the Belfast region was broadly welcomed in December. The deal, first announced in 2019, includes £350m in funding from Stormont and £350m from Westminster, and is set to fund 20 projects across six council areas. It aims to create 20,000 jobs over the next ten to 15 years.
BELFAST’S flagship city deal was unveiled as Belfast Stories, with the City Council acquiring the former Bank of Ireland art deco building on Royal Avenue for the £100 million tourism regeneration project.
A NEW study in the Republic confirmed a significant shift in companies switching their supply lines from Britain to Northern Ireland under the post-Brexit protocol. The Economic and Social Research Institute (ESRI) report said an examination of detailed product data showed a sharp decline in trade between the Republic and Britain, while trade with the north “increased considerably”. It came as one of the biggest chilled food delivery groups on the island of Ireland, the PRM Group, said it will invest £8m in a new purpose-built storage and distribution hub in Lisburn.
AFTER months of speculation, the Bank of England finally raised interest rates in response to calls to tackle surging price rises. The first rise in more than three years, the Monetary Policy Committee voted 8-1 in favour of the increase to 0.25 per cent.
THE head of the north’s largest exhibition and display company said his business has been forced to close after 23 years because it is no longer viable. Dundonald-based Event Exhibition and Display Ltd had been a key contractor for Invest NI in the UK, Ireland and Europe.
THE boss of Newry veterinary pharma firm Norbrook expressed concern at “the rumblings around the triggering of Article 16”, which he claimed “has the potential to lead to a period of uncertainty”. And he admitted that the Protocol had so far been “very effective” for the company, which bills itself as the largest privately-owned pharmaceutical company in the world. Liam Nagle, chairman and chief executive at Norbrook, was speaking as the company posted a “significantly improved” financial performance in the year to July 30.
THE rapid spread of the Omicron variant hit the hospitality sector in December with Hospitality Ulster warning the industry could lose out on up to £300m of trade. The Executive subsequently moved to close nightclubs from December 26 and impose additional restrictions on the sector. A £40m hospitality support package was later announced offering grants of £10,000 to £20,000.
