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Delay is stifling chances of investment and jobs

By Eamonn Donaghy

Published 13/06/2015

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

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