Statement by TUV leader Jim Allister:

“In a time of unprecedented pressure on public finances and services it is more important than ever that the public have confidence that they are getting value for money. Two stories which have emerged today would suggest this is not the case when it comes to InvestNI.

“That InvestNI is returning £21.6m of unspent money – just months after it had to hand back £17.5m – shows that it is guilty of gross mismanagement. InvestNI bid for and got this money because they said they could spend it. As a result there was less funding available for schools, hospitals and other essential services.

“Additionally, while there is a place for hospitality within reason, I believe it is wholly inappropriate that InvestNI should be squandering £200 a plate for a concert preceded by a champagne reception and five-course meal.

“Hospitality needs to be reasoned and measured. To spend over £4,000 in a single event for 14 representatives is excessive to say the lease. This concert and meal seems to suggest a culture of squander of public money which I think the public would be quite shocked at.

“I intend to explore the matter further and to that end I have tabled a question to Enterprise Minister Arlene Foster asking what has been the total spend on hospitality of InvestNI in each of the last 5 years.”