Tax cut would cost jobs: Agnew
Green Party leadership contender Steven Agnew has described calls for a cut in Northern Ireland’s rate of corporation tax by North Down MLA Stephen Farry as “wholly irresponsible”.
He quoted tax expert Richard Murphy’s suggestion that a reduction in Northern Ireland’s corporation tax to the level of that of the Republic of Ireland would result in a £300 million cut in the block grant.
Mr Agnew stated: “To further cut public spending at this time would be wholly irresponsible, would cost people their jobs and would affect key front line public services.
“It has been made clear by the UK government that Northern Ireland cannot set a different level of corporation tax from the rest of the UK without a further reduction of our block grant, meaning less money for public services.
“We should be protecting important front line services such as health and education, not slashing further,” he continued.