Chairman of the Northern Ireland Conservatives, Irwin Armstrong, has said that the loss of 255 call centre jobs this week “reiterates the need for Northern Ireland to show it is open for business to foreign direct investment”.
“It’s extremely sad and worrying news that the Indian company, HCL, is cutting 255 jobs”, Irwin explained. “And to add insult to injury, hot on the heals of the announcement here, we learn that HCL is expanding in the Republic of Ireland, creating 220 new posts.”
“This latest development only serves to emphasise the need for Northern Ireland to become business friendly, in order to attract and keep inward investment. Along with the business community, Northern Ireland Conservatives have consistently pressed the case for devolving powers to set Corporation Tax to the Assembly, and then using those powers to lower the tax and kick-start the economy.”
“Despite the economic difficulties suffered by the Republic of Ireland, and the uncertainty of its position in the eurozone, it can still attract new jobs and investment, with its low tax model. The same pattern is repeated across the world, whether in Canada, Hong Kong, Singapore or some of the rapidly expanding economies in Eastern Europe.”
“Unfortunately, this week, the competitive advantages of a low business tax model have been placed in all too stark relief for the people of Northern Ireland. Lower Corporation Tax rates are still by far the best plan we have to create jobs and lasting prosperity far Northern Ireland. This simply re-emphasises the need to demonstrate that everyone here is completely behind the devolution of powers to Stormont and that we’re determined to do everything possible to build a strong, successful economy for generations to come.”