Oral Answers to Questions

Fiona Bruce Excerpts

Wednesday 20th July 2016 Commons Chamber

[Bob Blackman (Harrow East) (Con)]

2. What recent discussions he has had with the Northern Ireland Executive on economic development in Northern Ireland.

[Fiona Bruce (Congleton) (Con)]

5. What recent discussions he has had with the Northern Ireland Executive on economic development in Northern Ireland.

[The Secretary of State for Northern Ireland (James Brokenshire)]

I am determined to build on the progress this Government have made in delivering peace and prosperity to Northern Ireland. We have already taken significant steps to back businesses across the UK, including reducing corporation tax and bringing the Exporting is GREAT campaign to Northern Ireland in May.

[James Brokenshire]

My hon. Friend makes a very good point about the creation of jobs and prosperity. I am sure that he welcomes today’s figures, which show further falls in unemployment and the claimant count in Northern Ireland, and increased employment, underlining the important aspects that he highlights. Yes, I will certainly be discussing with the Executive the role that I have to play with regard to investment and how we promote further jobs, growth and opportunity.

[Fiona Bruce]

Will the Secretary of State reaffirm the Government’s commitment to the devolution of corporation tax powers as set out in the Stormont House agreement? Does he agree that a vital part of that is that the Executive demonstrate that their finances are on a stable and long-term footing?

[James Brokenshire]

We do want the UK to stand out as a low-tax destination for business. We have already cut the rate of corporation tax from 28% to 20%, and we will cut it further. My hon. Friend makes the point about the devolution of corporation tax powers. They are subject to conditions around fiscal discipline and financial stability. We look forward to working with the Executive to achieve that and to see that that further devolution takes place.