Wed 18th Mar 2015
NI Chamber comments on Chancellor’s Budget
Commenting on today’s Budget, Ann McGregor, Chief Executive of Northern Ireland Chamber of Commerce and Industry (NI Chamber) said:
“The Chancellor’s focus on business growth and prosperity will receive a warm welcome from businesses of all sizes.
“Lower business taxes, allowances for investment, and targeted support for sectors and small companies, all contribute to confidence, investment and job creation.
“Northern Ireland Chamber of Commerce and Industry particularly welcomes that the legislation devolving Corporation Tax to Northern Ireland has passed the House of Lords, and we urge all of Northern Ireland’s political parties to commit to the Stormont House agreement so we can proceed to set a ‘rate and date’ for the implementation of Northern Ireland’s new Corporation Tax rate.
“Consensus needs to be reached so that Northern Ireland businesses can put growth plans in place and Invest NI can start selling the proposition to potential inward investors across the world. This must happen sooner rather than later or we risk losing investment opportunities.
“The Chancellor’s announcement that UKTI’s resources will be doubled to support businesses that export to China is also welcomed. We do, however, wonder why this additional funding was stopped at China and not rolled out across other emerging markets?
“Finally, on the creative industries, George Osborne also announced that TV and film tax credits are being made more generous and the video games industry is set for more support. Northern Ireland is fast becoming the location of choice for international film and TV companies and today’s announcement will help ensure this continues.”