Lowering Corp. Tax A 'Key Priority' - McGuinness

Lowering Corporation Tax is 'a key priority for promoting economic growth', the deputy First Minister has said.

Martin McGuinness was speaking at the 'Showcasing the Recovery' business breakfast at the Kennedy Centre, Belfast, today, where he described small and medium businesses as the "backbone" of the economy.

"The Executive has put the development of the economy at the heart of its Programme for Government," he said.

"Green shoots indicating an improving situation in our economy continue. We have witnessed an improving employment trend, improved consumer confidence and exports to the south of Ireland and Britain have increased.

"Securing the powers to lower Corporation Tax remains a key priority for promoting economic growth. We will continue to press the case for devolution of corporation tax and the London Government is expected to make its decision following the Scottish referendum this year.

"For local businesses access to finance remains a significant issue. Having a local banking sector meeting the needs of both consumers and businesses, and providing bank lending on a competitive basis to local Small and Medium Sized Enterprises, is vital to our economic recovery. I will continue to encourage the local banks to support businesses to develop and grow in this important recovery phase. We must also reduce the regulatory burden which in turn gives more time for businesses to identify new markets, grow their businesses and create employment opportunities. The Executive is committed to reviewing business red tape and reducing it for all businesses."

(IT/CD)