To ask the Minister for the Economy for an update on delivering improved economic regional balance.

Dr Archibald

Since the launch of the subregional economic plan in October 2024, positive progress has been made. Reforms in DFE include a dedicated regional balance unit, which has been set up in a new social and regional economy division. It brings together complementary work streams, including the social enterprise action plan and entrepreneurship. All councils have a DFE strategic adviser and an Invest NI regional manager assigned to provide support in establishing local economic partnerships. The first of those partnerships has already met, and the rest plan to do so imminently. The partnerships will identify local priorities, and Departments will be asked to help to deliver on them. In addition, in order to help to pump-prime projects, partnerships will have access to a £45 million fund over the next three years. Projects will be in line with my departmental priorities. A project board, including council officials, has been established to work through fund design and governance. The funding allocation for each area was announced in January. Invest NI has implemented a new regional approach. Promoting people and places is one of the six strategic priorities in Invest NI's 2024-27 business strategy. That includes the new target of 65% of investment to businesses outside the Belfast metropolitan area by 2026-27. Other initiatives, such as the Magee expansion task force, are also progressing well. A recent focus has been on acquiring the land necessary to facilitate the significant expansion in student numbers that we are committed to delivering.

Dr Archibald

I thank the Member for her question. She makes an important point. The local economic partnerships are about empowering areas to address their specific needs and align them with the departmental priorities. There will, of course, be opportunities for all councils and all areas in them to do that. I know that every MLA and every councillor will make the case for their area: that is healthy. It is really positive that those partnerships are being established and that there will be the ability to shape the economic priorities of local areas. We will review those as they roll out.

Mr Delargy

Minister, will you provide an update on the Magee planning, given that its expansion is so vital to regional balance?

Dr Archibald

As the Member will know, the task force published its final report and action plan on 16 December. The report provides a comprehensive and costed plan to deliver 10,000 students for Magee and highlights the significant milestones that have already been achieved in the early stages of the expansion, including the identification of 16 capital projects, the acquisition of key pieces of land, an additional 500 student places in the academic year 2024-25 and tuition fee loan access for graduate entry medical school students from 2025-26, for which the Member made the case. Work has begun on marketing and other enabling projects to support the delivery of additional students. The final report also recommends an investment of £291 million of capital funding to deliver the facilities for 10,000 students by 2032.

Ms McLaughlin

What is the Minister's assessment of the Executive's performance as a whole in improving regional balance since last February? Is she confident that enough measures are being taken across government to achieve and deliver that goal?

Dr Archibald

I thank the Member for her question. I know that it is an issue that she is passionate about. I share that passion. As an Executive, we have a focus on regional balance. That has come through in key decisions that have been taken across a number of Departments. The work that has been taken forward under the city and growth deals, for example, is positive and will see real change in the coming years. It will continue to take all of us who are passionate about the issue to ensure that delivery is being made on addressing the historical regional imbalances that have been faced, particularly in the west, south-west and north-west.

Mr Speaker

We move now to topical questions.