A Conservative spokesman has urged the Executive to plan cuts to Corporation Tax “as quickly as possible”. Johnny Andrews, the party’s Westminster PPC for Strangford, made his comments after a bill to devolve Corporation Tax setting powers was given Royal assent.
“Conservatives in government have delivered this game-changing power to Northern Ireland, in order to create thousands of private sector jobs and boost the economy”, Johnny explained. “Now it’s up to the Stormont Assembly to cut the tax, setting a planned rate for 2017 as quickly as possible, so that we can compete with the Republic of Ireland and attract investors immediately. International companies plot their strategies years in advance and an early decision on Corporation Tax can prompt some immediate results.”
“The Executive has been engaged in a destructive and dishonest debate about welfare reform. It has a pressing responsibility to get on with implementing these measures and start prioritising jobs and growth. That means cutting Corporation Tax, but it also means tackling competitiveness issues where Northern Ireland is lagging, like standardising employment law with the rest of the UK, boosting skills, lowering energy costs and stripping back bureaucracy. With the Corporation Tax Bill, the Prime Minister has delivered the potential to transform Northern Ireland’s economy. It’s now up to the Executive to get on with using these powers.”