Last week the Institute responded to the consultation Draft Budget 2026-2029/30 and took the opportunity to highlight a range of Northern Ireland (NI) specific issues of tax policy that are impacting on the region. The potential to activate a lower rate of corporation tax for NI also featured in the submission together with the need for affordable childcare.
Overall, the submission highlighted that NI’s competitiveness depends on an economy that attracts investment, supports entrepreneurs, enables cross-border labour mobility, and expands workforce participation through affordable childcare.
The Institute has therefore urged the Executive to prioritise and consider the following issues as part of its Budget setting process:
- The need for progress on entrepreneurial tax supports,
- How barriers in tax policy are impacting on the all island labour market,
- The economic benefits of activating the Assembly’s devolved powers on corporation tax, and
- The need for investment in affordable childcare.
Together these actions would increase productivity, stimulate job creation, and strengthen the region’s long term fiscal sustainability. These should therefore be considered as key objectives in the current budget setting process.
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