Business community takes tax message to Stormont

Wed 3rd Jul 2013

Enterprise and public representatives sign region’s first ever ‘Pledge for Prosperity’

Grow NI, the umbrella group of Northern Ireland business and other organisations, has today invited businesses and public representatives from across Northern Ireland to sign the region’s first ever ‘Pledge for Prosperity’ which was launched in Parliament Buildings on 21 May. The launch, which was jointly hosted by Simon Hamilton MLA and Conor Murphy MP MLA, who were joined by Secretary of State Owen Patterson MP, saw business groups from across all sectors unite in the call for the Treasury and Assembly to ensure that the power to change corporation tax is devolved – and used to create economic growth.

Eamonn Donaghy, of GROW NI said: “Fifteen business organisations as well as other sector representative organisations have signed our ‘Pledge for Prosperity.’ Together we represent over one thousand enterprises of all sizes from sole-traders to multi-national companies. The Pledge is an undertaking that each of us will do everything in our power to create sustainable employment and prosperity for all of our citizens by helping existing businesses to expand and supporting the creation of new companies. Devolving and reducing corporation tax will ensure the region is freed from over-reliance on public sector spending and means we can genuinely rebalance our economy.

“We all want to see a flourishing private sector, to revitalise the economy and put an end to chronic underemployment. This means that families and communities can enjoy the benefits of job creation and prosperity with a secure and sustainable future,”

“I am asking all our MLAs, many of whom are here today to sign our pledge.”

John Cunningham, founder and Managing Director of Kelvatek, which employs 150 people at their Northern Ireland headquarters and offices in the US, China, Poland, Scotland and Denmark spoke at today’s event:

“SME companies like Kelvatek can create a high-end technology focussed manufacturing base in Northern Ireland which can export across the globe. Funding for research & development is the lifeblood of companies like Kelvatek and this investment is only possible through retained profits – the fact is that banks and venture capital will not invest in this type of work. A reduction in corporation tax means that we can invest more and more in research, development and design of new products for world markets.

Kelvatek was founded by John Cunningham following the sale of his previous business to GE. “I want to build a high-end manufacturing company here in Northern Ireland. Companies like ours mean that people now have the opportunity to stay in Northern Ireland and raise their families here, it means that grandparents like me can stay in contact with their children and grandchildren. So there are social and community benefits which can flow from economic growth.”

Fourteen representative organisations have already signed the Pledge for Prosperity including: