Lord Dykes
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(9 years, 9 months ago)
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Baroness Randerson
My Lords, the Government greatly regret the fact that that law has not been introduced in Northern Ireland, and urge those in the Assembly to work on this so that it can be.
Lord Dykes (LD)
Does my noble friend agree that one disturbing fact about Northern Ireland is that it is the single most heavily subsidised small area in the whole of the European Union, even including some of the new member states from 2004? What do the Government intend to do about this, to redress the balance and make Northern Ireland more competitive?
Baroness Randerson
My Lords, the Government share my noble friend’s concern about the level of subsidy that has been necessary. The public sector, for example, constitutes around 30% of the economy in Northern Ireland, whereas it constitutes around 20% elsewhere. Therefore we have made strenuous efforts to encourage inward investment in Northern Ireland, and we hope that the corporation tax legislation will be a key issue in making Northern Ireland more competitive.