Chartered Accountants Ireland has reacted to the launch this morning of the UK Government’s consultation paper asking for views on measures to rebalance the Northern Ireland economy.
Chair of the Institute's Northern Ireland Taxation Committee, Mr Eamonn Donaghy said:
“This is a once in a lifetime chance to avail of a fresh examination of options for the Northern Ireland economy. We all now recognise the current over emphasis on the public sector and the potential to grow our private sector economy for the benefit of all our citizens. We are pleased to see that the Government recognises tax as a key influencer in attracting new investment into this region. The real work starts now and all concerned recognise the need for engagement in this process. The business community in Northern Ireland will play a vital role in designing these rebalancing measures.”
Commenting on today’s developments, Chair of Chartered Accountants Ulster Society, Richard Gardiner said:
“Some of the best policy initiatives come from this type of consultation and engagement. Chartered Accountants Ulster Society will contribute to this process to reflect the views of all of its members, who are active in every sector of NI business activity. If devolution of Corporation Tax rates is to be granted, the implementation of this power will be best achieved after closely examining both the potential of the proposal and the realistic costs involved, as well as outlining creative ideas on the management of the policy.”
Ends
Reference: Rónán O’Brien, Chartered Accountants Ireland, 087 2304070
Notes to Editors
- Chartered Accountants Ireland is Ireland's largest and oldest professional body of accountants and has over 20,000 members.
- Both the Chartered Accountants Ulster Society and the Institute itself have been especially active in the debate on tax policy in Northern Ireland. The organisations have contributed responses to the 2007 Varney Review of Tax Policy in Northern Ireland, the 2008 Varney Review of Competitiveness in Northern Ireland and the 2010 Call for Evidence by the Northern Ireland Affairs Committee at Westminster.
- The then President of Chartered Accountants Ireland, Mr. Vincent Sheridan, along with Mr. Donaghy, presented oral evidence to the Northern Ireland Affairs Committee at Westminster in February 2008 and to the Stormont Committee for Finance and Personnel in March 2008.