The IREP report stressed the importance of taking action to rebalance the Northern Ireland economy towards more value-added activities over the medium to long term, while recognising the need to provide short-term support for the economy in response to the global downturn.
The Government have secured a £19million ring-fenced budget allocation for a range of measures under a Short-Term Employment Scheme (STES), to be administered by Invest Northern Ireland, which will promote 5,000 jobs during the budget cycle. The Scheme is a direct response by the Executive to the economic downturn and recognises the need to take action to alleviate the impact of the recession on the local labour market."
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