Delay is stifling chances of investment and jobs
There is no Plan B for job creation in Northern Ireland. The impasse at Stormont and delayed introduction of a reduced corporation tax rate looks like there might no longer be a Plan A.
Over 100,000 jobs have been created in the Republic in the last four years and their low corporation tax rate is a key reason for this success. In Northern Ireland the delay in agreeing a date for the introduction of a lower rate of corporation tax has already resulted in deferred investment decisions from foreign investors and local businesses. This is delaying - possibly permanently - the creation of new jobs.
We in Northern Ireland are denied the chance to compete on a level playing field for investment and jobs. The long-term cost of not setting a date for the introduction of a reduced rate of corporation tax grows day-by-day.
Reducing the rate is an investment for our immediate future and Northern Ireland cannot afford to miss this huge opportunity.
- Eamonn Donaghy is a spokesman for lobby group Grow NI, and head of tax at KPMG in Belfast