Oral Answers to Questions

Laurence Robertson Excerpts

Wednesday 24th June 2020 Commons Chamber

The Secretary of State was asked—

[Mr Laurence Robertson (Tewkesbury) (Con)]

What recent assessment he has made of the prospects for the Northern Ireland economy in the next 12 months.

[The Secretary of State for Northern Ireland (Brandon Lewis)]

While the Northern Ireland economy does have its challenges, as we do across the United Kingdom as we come out of covid-19, I am confident that Northern Ireland has a promising economic future as we recover from this crisis. We will continue to work with business, the Executive and local partners to make sure we do everything we can to get the economy not just back up and running, but turbocharged as it moves forward, laying the foundations for a stable and sustainable economic future.

[Mr Robertson]

I thank the Secretary of State for that response. Does he agree with me that the much talked about reduction in corporation tax in Northern Ireland to 12.5% would be a major boost to the economy of the Province? If one or two parties in Northern Ireland are not keen on that idea, would the Government consider introducing it once we are free of the shackles of the European Union in that respect?

[Brandon Lewis]

I think we are all looking forward to being completely free of the shackles of the European Union. We in the UK Government remain committed to supporting the Executive to achieve the devolution of corporation tax, so that they will have the power to make the decision that my hon. Friend has outlined. In the Stormont House and subsequent “Fresh Start” agreements, we made it clear that these powers would be devolved and provided, subject to the Executive demonstrating that their finances are on a sustainable footing for the long term. It is for the Northern Ireland Executive to take the steps necessary to place those finances on a sustainable footing, such as by putting in place the fiscal council, which I hope they will do very swiftly.