Oral Answers to Questions

Lord Dodds of Duncairn Excerpts

Wednesday 26th October 2016 Commons Chamber

[James Brokenshire]

I certainly underline to my hon. Friend that we stand by our commitment to the devolution of corporation tax powers, subject to the conditions around fiscal discipline and financial stability agreed in the Stormont House and “Fresh Start” agreements. The Northern Ireland Executive have indicated that they would like corporation tax to be set at around 12.5% from April 2018, and they estimate that that could create 30,000 more jobs.

[Mr Nigel Dodds (Belfast North) (DUP)]

I join the Secretary of State in his comments about the recent murder. It is important that we all redouble our efforts to ensure that such events are a thing of the past.

Does the Secretary of State agree that, to build and strengthen the economy of Northern Ireland, investment in infrastructure is absolutely vital? The announcement by the Minister for Infrastructure in the Northern Ireland Executive that he was delaying the major York Street interchange project—for access to ports, an airport and a major road thoroughfare through Belfast to the rest of Northern Ireland—is a bit of a blow to that strategy. Will the Secretary of State take the opportunity to reiterate to the Minister for Infrastructure that all EU projects that are signed off before we leave the EU will be funded even if they continue after we leave the EU?

[James Brokenshire]

The right hon. Gentleman makes an important point about the continuance of EU funding. He will have noted the statement, which he has referred to, from the Chancellor of the Exchequer underlining that the Government will guarantee funding for structural and investment fund projects that are signed off until the point at which the UK leaves the EU, even where projects continue after we leave. It is important to underline that message. There should, therefore, be more projects coming forward, and we should continue to benefit from EU funding up until the point at which we depart.

[Mr Dodds]

I am grateful to the Secretary of State for underlining that important commitment, which should allow investment in that much-needed project to go ahead.

On the question of exporters, who have received a boost as a result of the revaluation of the pound, Northern Ireland was the only area last year that grew its exports, by 9.5%. Will the Secretary of State make a commitment that the new Department for International Trade will work closely with Invest NI to continue that really positive news for Northern Ireland, along with many other very positive economic indicators for the Province?

[James Brokenshire]

The right hon. Gentleman is right to underline the fact that the value of goods exported from Northern Ireland increased to £6.6 billion, which emphasises the strength of the Northern Ireland economy. The Secretary of State for International Trade has underlined his all-UK approach to his work, and he will want to work with Invest NI and the Executive to ensure that there is that clear message of seeing further investment and further exports coming from Northern Ireland.