Wed 3rd Jul 2013
Call for Member Support: Rebalancing the Northern Ireland Economy – Corporation Tax
On Thursday 24th March 2011 the Treasury published a consultation document on rebalancing the Northern Ireland Economy.
This document considers possible mechanisms for devolving corporation tax rate varying powers to Northern Ireland. The document confirms that a lower corporation tax rate would be likely to have a positive effect on local private sector investment and FDI. Increased investment typically leads to increased growth and employment, and could contribute to the rebalancing of the Northern Ireland economy.
The consultation paper does not make recommendations with regard to corporation tax but aims to gain a fuller understanding of the benefits and costs that a separate rate would involve for Northern Ireland and indeed for the rest of the UK.
Benefitting your business
The document outlines the main benefits as being additional investment into Northern Ireland by new foreign owned firms and by existing firms. The document estimates that FDI will grow by over