Agreement best outcome, says Invest NI chief

THE head of Invest NI has said agreement on a Brexit withdrawal deal is the best outcome for Northern Ireland businesses.

Alastair Hamilton (right) was speaking as the economic support agency announced almost £1m of funding for Co Tyrone machinery manufacturer Edge Innovate, which yesterday announced 80 new jobs as part of an £8m expansion.

“It is difficult to quantify exactly the damage that would be caused by a no-deal Brexit, but it is not our preferred outcome,” he told the BBC. “The best scenario is that a withdrawal agreement in reached.”

The chief executive’s comments follows the intervention from the board of Invest NI two weeks ago, which wrote to political parties, stating that it was “deeply concerned” over how unprepared many Northern Ireland businesses are for a no deal Brexit scenario.

Invest NI chairman Mark Ennis encouraged the leaders of Northern Ireland’s political parties to work together to ensure businesses here are represented in the ongoing negotiations and that “every possible step is taken to avoid the consequences which a no deal scenario would have on the Northern Ireland business base”.

Invest NI has been reluctant to get involved in the debate around Brexit. The economic support agency maintained a neutral position in the lead-up to the 2016 EU referendum.

”Our job is not to get involved in the debate around Brexit,” said Mr Hamilton yesterday.

But he added: “We are concerned that companies, in the absence of clarity, are not prepared for what comes beyond March 29.”