Menu
29/06/2011
Ritchie Can't Believe Wilson On Corporation Tax
SDLP Leader Margaret Ritchie has claimed Finance Minister Sammy Wilson "doesn't believe" in the policy of reducing corporation tax, despite leading the negotiations with the UK Government.
Ms Ritchie said "we have a problem" in that the person charged with negotiating terms with the Treasury for cutting the tax levied on outside corporations doesn’t believe in the project.
Sammy Wilson is this week involved in negotiations to have the powers to control corporation tax devolved to the Assembly.
At present, Northern Ireland's tax on corporations is the same as the UK's at 26%. However, many on the Assembly are arguing that the Republic of Ireland's relatively low 12.5% has put them at an economic advantage, making it harder for the North to attract direct foreign investment.
Margaret Ritchie said that Minister Sammy Wilson has in the past made it clear he does not share his Party's enthusiasm for a cut, and that he was completely at odds with the position of his Party Leader, First Minister David Robinson.
Ms Ritchie said: “I have made it clear many times that the position of the SDLP is one of strong support for the devolution of tax-varying powers and lowering of corporation tax here.
"If we are to move our economy out of recession, and onto a new growth trajectory, then we need to take control of more economic levers."
Ms Ritchie added that the vast majority of public representatives and the five parties in the Executive were fully behind lower corporation tax, and called the minister a "dissenter".
"He is the person whose job it is to lead the team that will negotiate the terms and ultimately the cost to all of us, of lowering corporation tax. And my question is this - how can he lead a successful negotiation for a concession he does not believe in?"
Supporting Ms Ritchie's comments, DUP Assembly Member for Strangford, Simon Hamilton said on Tuesday the reasons for a reduction are clear, "as are the benefits".
"Failing to positively pursue devolving Corporation Tax powers is in effect consigning Northern Ireland to an economic future of more of the same.
"If we need an illustration why, we need only look across the border to the Irish Republic: in spite of its economic woes it has reported record exports fuelled by companies attracted to Ireland by its low corporation tax rate."
(DW/GK)
Ms Ritchie said "we have a problem" in that the person charged with negotiating terms with the Treasury for cutting the tax levied on outside corporations doesn’t believe in the project.
Sammy Wilson is this week involved in negotiations to have the powers to control corporation tax devolved to the Assembly.
At present, Northern Ireland's tax on corporations is the same as the UK's at 26%. However, many on the Assembly are arguing that the Republic of Ireland's relatively low 12.5% has put them at an economic advantage, making it harder for the North to attract direct foreign investment.
Margaret Ritchie said that Minister Sammy Wilson has in the past made it clear he does not share his Party's enthusiasm for a cut, and that he was completely at odds with the position of his Party Leader, First Minister David Robinson.
Ms Ritchie said: “I have made it clear many times that the position of the SDLP is one of strong support for the devolution of tax-varying powers and lowering of corporation tax here.
"If we are to move our economy out of recession, and onto a new growth trajectory, then we need to take control of more economic levers."
Ms Ritchie added that the vast majority of public representatives and the five parties in the Executive were fully behind lower corporation tax, and called the minister a "dissenter".
"He is the person whose job it is to lead the team that will negotiate the terms and ultimately the cost to all of us, of lowering corporation tax. And my question is this - how can he lead a successful negotiation for a concession he does not believe in?"
Supporting Ms Ritchie's comments, DUP Assembly Member for Strangford, Simon Hamilton said on Tuesday the reasons for a reduction are clear, "as are the benefits".
"Failing to positively pursue devolving Corporation Tax powers is in effect consigning Northern Ireland to an economic future of more of the same.
"If we need an illustration why, we need only look across the border to the Irish Republic: in spite of its economic woes it has reported record exports fuelled by companies attracted to Ireland by its low corporation tax rate."
(DW/GK)
Related Northern Ireland News Stories
Click here for the latest headlines.
24 October 2024
100 Days Left To File Your Self Assessment Tax Return
The clock is ticking for taxpayers who file Self Assessments. HM Revenue and Customs (HMRC) is reminding everyone that they have just 100 days left to submit their return and settle any tax owed before the January 31st deadline. For those who haven't started yet, HMRC offers a wealth of information and guidance on GOV.
100 Days Left To File Your Self Assessment Tax Return
The clock is ticking for taxpayers who file Self Assessments. HM Revenue and Customs (HMRC) is reminding everyone that they have just 100 days left to submit their return and settle any tax owed before the January 31st deadline. For those who haven't started yet, HMRC offers a wealth of information and guidance on GOV.
23 January 2024
HMRC Issues Self Assessment 31 January Deadline Reminder
HM Revenue and Customs (HMRC) has urged the 3.8 million people yet to file their Self Assessment tax return are urged to "act now or risk facing a £100 penalty". HM Revenue and Customs (HMRC) is expecting more than 12.1 million tax returns to be filed for the 2022 to 2023 tax year along with any payment that is owed. To date more than 8.
HMRC Issues Self Assessment 31 January Deadline Reminder
HM Revenue and Customs (HMRC) has urged the 3.8 million people yet to file their Self Assessment tax return are urged to "act now or risk facing a £100 penalty". HM Revenue and Customs (HMRC) is expecting more than 12.1 million tax returns to be filed for the 2022 to 2023 tax year along with any payment that is owed. To date more than 8.
01 July 2011
Ritchie Still Pushing for Corporation Tax Slash
SDLP Leader Margaret Ritchie has met with the UK Secretary of State on Thursday to again push the case for a reduction in corporation tax in Northern Ireland.
Ritchie Still Pushing for Corporation Tax Slash
SDLP Leader Margaret Ritchie has met with the UK Secretary of State on Thursday to again push the case for a reduction in corporation tax in Northern Ireland.
20 May 2010
PM Flies In For Stormont Meeting
Prime Minister David Cameron is in Northern Ireland today. He is at Stormont Castle where he is meeting First Minister Peter Robinson and Deputy First Minister Martin McGuinness in this, the first NI trip since the Conservatives and Liberal Democrats sealed their own power-sharing deal at Westminster.
PM Flies In For Stormont Meeting
Prime Minister David Cameron is in Northern Ireland today. He is at Stormont Castle where he is meeting First Minister Peter Robinson and Deputy First Minister Martin McGuinness in this, the first NI trip since the Conservatives and Liberal Democrats sealed their own power-sharing deal at Westminster.
20 November 2015
NI On Brink Of 'New Economic Era' - Bell
Northern Ireland is on the brink of a "new economic era" thanks to reduced corporation tax and ongoing support for business, Enterprise, Trade and Investment Minister Jonathan Bell has said.
NI On Brink Of 'New Economic Era' - Bell
Northern Ireland is on the brink of a "new economic era" thanks to reduced corporation tax and ongoing support for business, Enterprise, Trade and Investment Minister Jonathan Bell has said.
-
Northern Ireland WeatherThis Evening and Tonight:Showers, scattered in the evening, will clear by midnight leaving the night dry with clear spells. Perhaps a touch of ground frost. Cloud will spread east towards morning. Minimum temperature 2 °C.
