Last week, the Institute hosted members from across industry and practice to discuss our campaign to activate the powers for the Northern Ireland Executive to set the rate of corporation tax for Northern Ireland. In June, we launched a refreshed campaign highlighting why a corporation tax rate of 12.5 percent would be a key move in supporting the economic advancement of the region. You can our full reasoning in our seminal position paper – ‘Enhancing Our Competitiveness’: The case for a reduced rate of corporation tax in Northern Ireland.
The Institute maintains that a robust industrial policy for Northern Ireland must address the divergence in corporation tax rates between Northern Ireland and the rest of the island. A reduced rate of corporation tax that is at parity with the rate across the rest of Ireland would attract investment, encourage entrepreneurship and secure the future of the region. Northern Ireland stands to benefit greatly if it can realise the full potential of its dual market access to both the EU and the UK.
As recently as November, the Institute wrote specifically to the Exchequer Secretary to the Treasury on this issue highlighting that the ultimate aim of a lower rate is that it would become self-funding in the longer term but that it would necessitate a replacement loan at a low interest rate from HM Treasury to fund the necessary block grant reduction. We will continue our campaign throughout 2026.
If you work in a local business and would like to participate in the Institute’s campaign by being a voice of support for a lower rate, contact us by email.
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