Magazine article Public Finance

Villiers Offers Tax Carrot for Budget Deal

Magazine article Public Finance

Villiers Offers Tax Carrot for Budget Deal

Article excerpt

Northern Ireland's politicians have been told they will be given control of corporation tax before May's general election if they push on with agreeing the budget and implementing welfare reforms.

Theresa Villiers was setting out details of the Stormont House Agreement, which was struck on December 23 after weeks of talks. It paves the way for legislation to devolve corporation tax to Northern Ireland, as announced in the Autumn Statement.

'If the Stormont parties press ahead on agreeing their final budget and on delivering welfare reform legislation, the government will use all its best endeavours to get the legislation onto the statute book before dissolution,' the Northern Ireland Secretary said in a Commons statement on January 7.

'The parties in Northern Ireland believe that corporation tax devolution can help them to rebalance the economy and attract investment because of Northern Ireland's unique position of having a land border with the Republic of Ireland,' she added. …

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