Oral Answers to Questions

Baroness Ritchie of Downpatrick Excerpts

Tuesday 25th October 2016 Commons Chamber

[Mr Gauke]

I agree that removing distortions in the economy results in a more efficient economy. The UK Government have a record of doing that, by, for example, reducing corporation tax.

[Ms Margaret Ritchie (South Down) (SDLP)]

Apart from lowering corporation tax what other steps will the Chancellor and his ministerial team take to incentivise manufacturing industry in Northern Ireland?

[Mr Gauke]

The freedom for Northern Ireland to set its corporation tax rate is an important measure in itself. We look forward to further progress on that. Of course, there will be an autumn statement next month in which the Government will set out their economic policy. I have mentioned corporation tax and R and D tax credits, which we have made more generous. Those measures will have helped manufacturing businesses in Northern Ireland and elsewhere.