Plans to establish a new single economic development agency in Northern Ireland could be threatened by any suspension of the Assembly in the North next week. The Industrial Development Bill, the first step in the legislative process required to create Invest Northern Ireland, passed through its premier stage in the Assembly earlier this week.

But the Bill must pass a second stage next week to meet the timetable for the establishment of the new agency in the early part of next year. Sir Reg Empey, the North's Minister of Enterprise, Trade and Investment, said it was "imperative" that the Bill was introduced to the Assembly before the summer recess.

It will transfer the powers of a number of the North's current economic development agencies to it, including for example the Industrial Development Board, LEDU, and the Small Business Agency.

The new agency is designed to create an efficient and focused body to concentrate on developing the local economy and attracting new investors to the North.