Local businessman and chairman of the NI Conservatives, Irwin Armstrong, says that the executive cannot afford to “rest on its laurels” over the next 18 months, before a final decision on devolving corporation tax powers is reached.
“The government is putting together a package of measures to help the economy in Northern Ireland, which is an opportunity that must be grasped, and the executive also has a chance to make sure that if powers to lower corporation tax are devolved they can be used immediately”, Irwin explained. “NI Conservatives still believe that lower business taxes could bring crucial investment into Northern Ireland. Therefore I would urge the executive to use the next 18 months to draft enabling legislation which will allow the Assembly to use powers to cut Corporation Tax quickly, if they are devolved.”
“Equally importantly, Stormont ministers must work closely with the government in order to fine tune the package of aid which the Prime Minister will make available to create jobs and build a shared future. As the mayor of New York City, Michael Bloomberg, pointed out, Northern Ireland cannot build a successful economy if our society remains divided. David Cameron is determined to provide the executive with the tools to create prosperity, so long as ministers are prepared to put the foundations in place by making meaningful progress toward a shared future.”
“There will be real opportunities over the next year and a half to build a hopeful future for Northern Ireland. There is a heavy responsibility on the executive to ensure it uses the tools it is being offered to tackle the challenges which our economy and society face.”