The coalition Government’s cuts will lead to greater job losses and economic hardship for Northern Ireland, The Association for Consultancy and Engineering’s (ACE) Northern Ireland group has warned.
The association says this could mean as many as 25% of member firms folding during 2010.
The construction industry in Northern Ireland has been particularly hard hit during the recession. Since 2007 jobs in all sectors of construction have fallen by around 30% with unemployed construction workers now totalling over 13’000. This represents one in four of all claims for unemployment benefit.
Gavin Browne, chairman of ACE’s Northern Ireland group, said: “ACE members in Northern Ireland have said that trading conditions have been at their most difficult for as long as they can remember. There is a real fear that many firms may not survive past 2010.”