Northern Ireland Executive advised to sell property | 21 October 2013
The Northern Ireland Executive has been urged to sell off public sector property in order to raise funds for roads and other key infrastructure.
Paul Kendrick, who is the new Northern Ireland chairman of the Royal Institute of Chartered Surveyors (RICS), has suggested that finance is desperately needed for roads and other infrastructure in Northern Ireland – and that carefully managed asset sales is the best way to raise money.
In an interview with irishnews.com, he indicated that the existing economic environment offers a good opportunity to sell certain assets, as many institutions are actively looking to invest in Northern Ireland.
He added: “It’s important not to flood a recovering market with assets, particularly when Nama and banks are seeking to sell property holdings, but a carefully managed asset disposal programme would be strongly in the public interest.
“Infrastructure spending is hugely economically beneficial, both in terms of the immediate boost through job creation and money going directly into the economy, and also in terms of the long term boost to competitiveness.”
Kendrick, who began his new role earlier this month, claimed that hundreds of million of pounds could be put towards capital spending by adopting this strategy. According to belfasttelegraph.co.uk, there has been no public response to his suggestions as of yet.
The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.
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