PEACE in Northern Ireland would mean a ''painful transition'' in the

jobs market there, the new committee of MPs scrutinising the Province's

affairs was told at its first public meeting at Westminster.

Northern Ireland Minister Tim Smith indicated that a ''significant''

number of people now working in the security industry would be thrown

out of work. However, there would be a ''substantial dividend,'' with

the tourist industry benefiting in a big way and investment easier to

attract.