Wed 3rd Jul 2013
Survey shows business support for the devolution of tax powers
One of the largest surveys of Northern Ireland businesses undertaken in recent years shows more than three-quarters support devolution of tax varying powers.
The Quarterly Economic Survey, carried out by the Northern Ireland Chamber of Commerce, surveyed almost 500 businesses. It revealed that 16 per cent were not sure if the power should be devolved and 6 per cent said it should not be. But a majority of 78 per cent came out in favour of the move which is the subject of an ongoing public consultation by the British Treasury.
Chamber President Francis Martin said the result sent out a “clear message” to Chancellor George Osborne.
“It is widely accepted that the Northern Ireland economy is in need of a dramatic intervention if we are to get over the dependency on the public sector” he said.
“Reducing corporation tax is one such radical intervention and the fact that 78 per cent of businesses who responded to the survey agree that the power should be devolved is a significant indicator of where the business community stands on this issue.”
Full results from the survey can be downloaded below: