Ulster Unionist Economy spokesperson, Sandra Overend MLA outlined the Ulster Unionist Party's alternative view of how to deal with the current economic crisis within the local economy.

Speaking following an Ulster Unionist news conference held in light of the recent job losses at FG Wilsons, Sandra said:

"Our economy was already in a precarious state, given the global economic recession and Eurozone crisis, however news in recent days have made a bad situation worse. This is a dire situation for those affected by the recent job losses and the sympathies of I and my Party are with them. This is no doubt an extremely difficult situation for them and it is vital that they know they have the support of elected representatives.'

"I am also extremely disappointed at the labour statistics published yesterday, which don't make for good reading. The rate of unemployment and the rate of youth unemployment have increased and both are above the UK average and the number of people claiming unemployment related benefits has increased to over 63,000. This is totally unacceptable and with Westminster and the other devolved regions taking action Northern Ireland is lagging behind.'

"The Ulster Unionist Party put the issue of Corporation Tax on the agenda years ago, however, the posturing has dragged on for long enough now. We have four Ministers in Arlene Foster, Sammy Wilson, Martin McGuinness and Peter Robinson who have been part of the working group looking at this issue, yet we have no result and no information. All the while this dithering carries on back and forth; people in Northern Ireland are losing their jobs at a significant rate.'

"Either this group has the ability to deliver, or they don't. Either they can negotiate of behalf of Northern Ireland, or they can't. Looking at their form thus far, it is clear to the Ulster Unionist Party that we must look at a Plan B."

"Our proposal for a Plan B is simple; if we can't agree to devolve the main rate of corporation tax then let's look at the Small Profits Rate in order to specifically help our small and medium sized businesses. If Corporation Tax is totally off the agenda then we need investment in infrastructure. A vibrant and fit for purpose infrastructure is a key driver in promoting growth and must be a principle component of the economy. This ranges from everything from a well-developed road transport sector, improvements to the energy networks as well as broadband digital networks. This approach is backed up by the Institute for Public Policy Research (IPPR) report into HMG's economic policies as this highlights the importance of capital investment on infrastructure for the economy. We need this investment and we think we should be lobbying the Treasury for a bigger pot to spend.'