No one living and working in Northern Ireland can be left in any doubt that we face a tough year ahead. Whether Chris Heaton Harris’ intention is a ‘punishment budget’ or not, the fact is that the total amount allocated to Departmental budgets will reduce by 0.4%. Combine this with inflationary and increasing pay settlement pressures and the real impacts will be of much greater magnitude. It is welcome news that the capital budget has increased slightly (from £2.1 billion last year to £2.2 billion) but this is unlikely to be of sufficient magnitude to avoid a drop in public works programmes that are so important to many in our sector.
In Ireland, the picture is very different, with the Irish government projecting a budget surplus of €10 billion this year and quarter-on-quarter GDP growth stronger than anticipated at 2.3%. Unquestionably, the North would benefit from a return to the devolved government against ‘indirect’ rule, and from a courtship with the Biden administration that might reap dividends.
Notwithstanding, the private sector throughout Ireland is nothing if not robust, tenacious and self-driven. A quick flick through the pages of this edition bears witness to that. FUCHS features in our cover story with Seaforde Metals taking a brand new MHL 350 and again in a product launch in Ireland for the MHL 434 Timber Handler.
Meanwhile, RokBak is delivering on all fronts for the Skene Group with the RA 30 excavator, DAF has launched a full series of new-generation vocational trucks and the Renault C Range from Diamond Trucks is garnering rave reviews from customers.
And if you want to read about investment on a scale that speaks of business confidence, read our feature on AG Wilson!
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