AQW 7163/22-27

Mr Jonathan Buckley
Democratic Unionist Party
Upper Bann

Tabled Date: 21/02/2024
Answered On Date: 08/04/2024
Priority Written: Yes

Question:
To ask the Minister for the Economy for his assessment of whether a reduction in corporation tax has the potential to attract investment into Northern Ireland and to boost the economy.

Answer:

The Independent Fiscal Commission NI in its Final Report of May 2022 observed that a lower corporation tax rate in the North could impact positively on investment decisions. It also noted that there would have to be agreement on how the block grant is adjusted, so that it would be affordable to the Executive in the short-term. This will be taken forward as part of negotiations on a new Fiscal Framework. It should also be noted that various factors influence investment decisions, including skills and access to markets.