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'Cut will only benefit accountants and lawyers'

By Clare Weir

A stringent opponent of lowering corporation tax in Northern Ireland has hit out at the latest Westminster report recommending a drop in the rate to just 12.5%.

Richard Murphy, who runs the Tax Research UK website, has issued a stinging blog post arguing that not everyone consulted on the issue was in favour, contrary to government press statements.

Mr Murphy added he was "especially annoyed" the parliamentary committee said evidence from businesses, trade unions, economists and politicians "formed a convincing argument for a lower rate for Northern Ireland".

He said: "We were by no means the only opponents to this reform. I know of no union that supported it.

"So who would benefit? Well, the accountants and lawyers. Will anyone else win? Not a chance."

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