Unionists must back tax-varying powers if we are to cut corporation tax

Alliance Enterprise Spokesperson Séan Neeson MLA has warned the Ulster Unionists and the DUP that for us to have any chance of lower corporation tax, the Assembly must have tax-varying powers. In a Sinn Fein-proposed Assembly debate on Monday the UUP and DUP indicated that they did not want the Assembly to have these powers, and Mr Neeson wants to illustrate the realities if we are to help local business.

The East Antrim Assembly Member said: “The UUP and DUP must accept the reality that if corporation tax is to be introduced in Assembly then we must have tax-varying powers.

“This is as a result of the European Union decision on the so-called Azores issue which impinges upon national governments giving preferential treatment to regions within their authority.

“The UUP and DUP may think its clever to oppose ideas that Sinn Fein propose; however, on this occasion their move may have damaged our prospects of lower corporation tax for Northern Ireland.

“This blows out of the water claims by either party to be business-friendly. Having the choice of strengthening the case for lower corporation tax or playing political games with Sinn Fein, unionists chose the petty option.”

ENDS