The vast majority of Northern Ireland's core businesses will cut proposed investment in the North if the Assembly is suspended or collapses, a new survey will reveal today. More than 90 per cent of Northern Ireland's key employers have stated that any change in the current political status quo in the North will have a direct impact on the economy, according to a survey carried out by PricewaterhouseCoopers.

The company interviewed 263 of Northern Ireland's leading businesses as part of its annual Northern Ireland Economic Review and Prospects.

Mr Stephen Kingon, managing partner of Pricewaterhouse Coopers, said that the result of the survey clearly shows that the Assembly has made a significant contribution towards creating political stability.

"There is a direct correlation between business confidence and political progress, hence the dramatic rise in the number of companies directly linking future investment to political stability," Mr Kingon added.

Most of the companies interviewed said devolution was good for Northern business.

Nearly 70 per cent of companies who were interviewed believe that the Northern Ireland Assembly will directly benefit their business performance over the next five years.

In a similar survey conducted by the business advisers last year, 29 per cent of companies said they would reduce investment plans in Northern Ireland if the Assembly were to collapse or be suspended.

A year later, the corresponding figure has now risen to 88 per cent, while between 92 per cent and 100 per cent of all overseas-owned companies have also indicated that any previously planned investment would either be reduced or postponed in light of any change in the political situation in the North.

Mr Kingon said that the results reflect the mood of the business community at this time.

"Currently, three times more companies than last year say that the survival of the Assembly and the political institutions will influence their future investment intentions."