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Wilson still misses the bigger picture on Corporation Tax

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Monday, 21 May, 2012
  • Local News

Northern Ireland Conservatives chairman, Irwin Armstrong, has again expressed his disappointment in the finance minister, who is still talking down the advantages of a Corporation Tax cut. 

“Economists, the entire range of business organisations, politicians and precedents from around the world: all are agreed that a cut in Corporation Tax can boost our economy, yet the finance minister still doesn’t get it”, Irwin noted.  “It is baffling that the man charged with creating jobs and growth in Northern Ireland is also the man who is seemingly most determined to prevent us from acquiring the most important potential tool in our economic armoury”.

“Mr Wilson is still harping on about ‘the cost’ of a cut and this fictional £400 million which he alleges will be lost to the economy.  He seems to have no understanding that any money which is not available through the block grant will be put to work by companies and wealth creators in Northern Ireland, who will be using it to invest and create jobs”.

“It’s desperately disappointing that our finance minister simply refuses to see the bigger picture on this issue.  The secretary of state, business organisations, economists have all been pulling in the same direction on Corporation Tax, doing their best to put the best circumstances in place to grow our economy.  It seems Mr Wilson is still intent on pulling in the opposite direction.”

“It is time he recognised that spending government money is not the best or the only way to promote jobs in Northern Ireland.   It is only the private sector that can create private sector jobs. Mr Wilson should examine the cost of not having a reduction in Corporation Tax and pledge to use any new powers to cut the rate at the earliest possible opportunity. If he requires any assistance in that regard we will be only too happy to provide it.”

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