Belfast News: The NI Quango Gravy Train De-Railed

The 'Economic Research Institute of Northern Ireland', an economic think tank is set to close down.

Given the state of the economy, it will be more of surprise to most people in Northern Ireland, that such a think tank ever started up, never mind closed shop and they will probably be more shocked that despite only having 12 members of staff, that this organisation cost the taxpayer about £1,000,000.00 per annum, financed through the Office of the First and Deputy First Minister.

The 'Economic Research Institute of Northern Ireland' was set up in 2004 to provide advice on the NI economy and to carry out independent research aimed at improving policy making and despite an independent review carried out more than a year ago concluding that the body failed to fulfill its mandate and did not represent value for money, the Office of the First and Deputy First Minister continued to fund it, until this year.

It is of course sad, that 12 people will lose their jobs, but given its failed mandate, the question for the Northern Ireland Executive is, at a time when there is real suffering throughout Northern Ireland, why did they take so long to bring this gravy train to a stop

Last Updated: 9th February 2011