New economy think tank must look to rebalancing economy

Alliance Party Finance Spokesperson Stephen Farry MLA has welcomed the creation of the Economic Reform Group and its emphasis on a differential rate of corporation tax, arguing that rebalancing the economy must be a top priority for government.

Dr Stephen Farry stated: “There is clear space for an economic think tank in Northern Ireland that can challenge government and political parties and provide critical thinking on the way ahead. Rebalancing and modernising our economy must be a top priority for this society. We remain too dependent on the public sector and a massive financial subvention from London, and our wealth creation and productivity levels remain comparatively low.

“I welcome the continued efforts as regards a differential rate of corporation tax for Northern Ireland. Economists have recognised that this would make the single biggest difference in creating a step change in levels of local economic activity. While the UK Treasury has so far rebuffed efforts, the campaign should nevertheless continue.”


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