Belfast Telegraph

Corporation tax cut plea to Northern Ireland politicians

Richard Gillan
Richard Gillan

By Staff Reporter

A body representing accountants has urged politicians engaged in talks to remember that a cut to Northern Ireland's corporation tax to help the economy is within reach.

The 2015 Fresh Start Agreement provided for the devolution of corporation tax, allowing a cut to 12.5%, with the power to be devolved in April last year.

But the legislation requires an Executive to be in place and a demonstration that the finances of Northern Ireland are on a firm footing.

Richard Gillan, chairman of the Ulster Society, said: "It is now clear Northern Ireland will be the UK region most severely impacted by Brexit. The economic opportunity originally presented by corporation tax devolution now takes on added importance."

He added that while a new Executive would face many tough decisions, a lower rate of corporation tax would be a "quick win" that would "take away some of the impending pain of Brexit".

Belfast Telegraph

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