Chartered Accountants Ulster Society says reduced Corporation Tax rate plus renewed FDI interest could kick start local economy
The Chairman of Chartered Accountants Ulster Society has said that Northern Ireland’s unique post-Brexit trading position could be Northern Ireland’s key economic advantage in the year ahead.
Speaking to 400 guests at the Ulster Society’s Annual Dinner, sponsored by Danske Bank and MCS Group tonight (20 March), Paul Millar said that chartered accountants across Northern Ireland had identified the key opportunities for the economy, with dual market access to the UK and EU rating highly.
Another key opportunity identified by Ulster Society members was the potential to attract investment and boost job creation through a reduced Corporation Tax rate.
Paul Millar said: “Two-thirds of our members believe that Northern Ireland can benefit from devolved Corporation Tax powers and a lower rate to match that of the Republic of Ireland.
“If we can combine dual UK/EU market access, a competitive Corporation Tax rate, plus take advantage of the renewed interest in investment into Northern Ireland from the USA and elsewhere, it could be a game changer. The talent is here, the success stories are here, and the potential is right here.
“With the right approach, an entrepreneurial mindset and everyone pulling in the right direction we have a tremendous opportunity to be a unique business hub. If we can take that opportunity, it means a better standard of living for everyone with better job, public services and better prospects.
“We live in straitened times, but we need to find solutions. We need to focus on opportunities because they are there. Strategic initiatives could have a big part to play.”
Mr Millar’s speech also highlighted the role of political leadership and the need to build on the confidence generated by the restoration of the Northern Ireland Assembly: “It’s really positive that we now have restored political leadership back at Stormont, ready to face the challenge. We also have a great opportunity to create a resurgence in economic optimism and determination, spurred on by renewed leadership and a clear vision for the future.
“Encouraging entrepreneurship is not just about financial gains. It's about empowering individuals, revitalising communities, and shaping a brighter future for generations to come.
“Northern Ireland is a great place to live and a great place to do business. There is so much potential and much to be positive about. We need to work together, with the right mindset, to take the opportunity that is in front of us.”
Providing entertainment for guests at the Ulster Society Annual Dinner were adventurer, entrepreneur and author Debra Searle MVO MBE, and one of Northern Ireland’s most highly regarded performers Peter Corry MBE.
The Chartered Accountants Ulster Society’s Annual Dinner took place at Titanic Belfast and was attended by 400 members and their business guests.
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