The £30m storm
Huge bill racks up for damage, lost business and empty workplaces Three dead in Republic as Lisburn mum nearly crushed by falling tree Schools to stay shut for second day as clear-up begins
THE bill for Storm Ophelia could cost Northern Ireland £30m, a leading economist warned last night.
Winds of almost 100mph lashed parts of Ireland yesterday, leaving three people dead in the Republic.
A young Lisburn mum had a lucky escape when a huge tree crashed right in front of her car.
Meanwhile, schools are set to close for a second day today as the cleanup after the biggest storm here since 1961 begins.
STORM Ophelia could cost the Northern Ireland economy as much as £30m, according to leading economist Dr Esmond Birnie.
The estimate will cause concern across the business community, as a second day of school closures and childcare costs for parents will add to the total.
However, Dr Birnie (below), a senior economist with Ulster University’s Economic Policy Centre, also said that while the overall cost would be high, his initial estimate could vary depending on a number of other factors.
Dr Birnie said the daily output in Northern Ireland’s economy was equivalent to around £100m.
“Let us assume that one-third of the workforce find their workplace shut down or are unable to get into work. That would imply, although that figure may be an exaggeration, a loss of output of about £30m,” he said.
Dr Birnie said the figure may be too high for different reasons, including the internet allowing people to work from home, and shopping or cinema trips being moved to later in the week.
“The cost of clearing up and repairing, such as fixing a roof, will actually add to economic activity and hence to the value of economic output,” he said.
“In terms of Monday’s storm in Northern Ireland, the greater
concern is the risk to life.”
Yesterday, numerous workplaces across Northern Ireland did close their doors and sent employees home, including Almac and Randox. Coca-Cola also closed down its Knockmore Hill plant in Lisburn from 11.30am, allowing employees to go home.
Since opening its doors in 2010, the plant has only closed down once before, following a flooding incident.
A spokesperson said: “We made this decision to ensure that our staff do not need to make unnecessary
journeys and so that they can return home safely.
“We will monitor weather reports and advice from the authorities closely over the next 24 hours and the plant will reopen as soon as it is considered safe for employees to travel.”
All AIB, Bank of Ireland and Ulster Bank branches were closed across Ireland and Invest NI closed its Belfast headquarters and other offices at noon due to adverse weather conditions.
A number of freight companies also cancelled services and several major retailers such as Dunnes, Lidl, Musgrave and Argos also closed their doors, along with a host of shopping centres.
Shortly after 5pm, Tesco announced that it would be closing its stores.
Most retailers are expected to re-open today.
Retail NI has questioned why the Education Authority’s decision to close schools was taken so late on Sunday evening, amid suggestions Northern Ireland’s response to Storm Ophelia was lacking.
Retail NI chief executive Glyn Roberts said: “There is no doubt this storm has cost the Northern Ireland economy severely, with thousands of businesses closing and extensive damage to property.
“However, legitimate questions need to be asked as to why the decision to close schools was taken so late on Sunday night.
“Whilst this was the right course of action to take, the late decision created difficulties for many of our members’ staff as they struggled to make childcare arrangements at 10.30pm on a Sunday.””