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In his address to the NI Assembly yesterday, 9 June, the Prime Minister was careful not to pre-empt the findings of the public consultation “Rebalancing the Northern Ireland Economy”.  However there was no doubting his view of the significance of Corporation Tax policy in attracting inward investment.

Mr Cameron said:

“As part of the UK, Northern Ireland will benefit from the measures to promote growth that we’ve already announced, such as cuts in business taxes.

But I recognise that in Northern Ireland we need to go further.

You have two unique challenges – the legacy of violence and a land border with a state that has significantly lower corporate taxes.

The consultation paper launched in March and which runs to 24 June focused heavily on the possibility of devolving powers over corporation tax to this Assembly.

I’m not going to pre-judge the outcome of the consultation today, though I understand the strength of feeling within the main business organisations on this issue and across all political parties.

So I can assure you that the Chancellor and I will take the consultation seriously and give it proper consideration.”

Chartered Accountants Ireland and Chartered Accountants Ulster Society will be making a formal response to the consultation process.  Our previous contributions to this important debate include:

Response to the Varney Review of Tax Policy in Northern Ireland -

Response to the Varney Review of Competitiveness in Northern Ireland -

Oral Evidence to the Westminster Northern Ireland Affairs Committee -

Oral Evidence to the Stormont Committee on Finance and Personnel -

Response to the Northern Ireland Affairs Committee Call for Evidence – Autumn 2010 –