Fri 19th Sep 2014
Business reaction to Scottish referendum – NI Chamber
Commenting on the decision, Ann McGregor, Chief Executive of Northern Ireland Chamber of Commerce and Industry, said:
“The people of Scotland’s historic decision to remain part of the United Kingdom will be a relief to many local businesspeople.
“We have been through a period of disruption and the uncertainty has slowed down vital decisions in businesses, particularly regarding investment which in the long term will impact on business growth and employment.
“Scotland is a very important trading area for a large number of our businesses, with PwC’s latest Economic Outlook estimating that annual Northern Ireland manufacturing sales to Scotland are approximately £700m. Those businesses faced the possibility of having to deal with two separate regulatory regimes, two different tax systems and possibly even an exchange rate – none of which would make business any easier.
“We now await the Prime Minister’s decision on the devolution of corporation tax powers to Northern Ireland. We hope that this can now reach a quick conclusion, with the powers devolved, shortly.”
For further information please contact:
Christopher Morrow, Communications & Policy Manager
Northern Ireland Chamber of Commerce and Industry
Tel: 02890 244113 / 07808789163