Oral Answers to Questions

Lord McCrea of Magherafelt and Cookstown Excerpts

Wednesday 2nd February 2011 Commons Chamber

[Dr William McCrea (South Antrim) (DUP)]

Q11. Prime Minister, before the election you came to the Province, entered into a contract with the people of Northern Ireland and promised to bring change to “our economy”. In your speech about the contract, you told the people to “read it, keep it, stick it to your fridge, use it to hold us to account”. Ten months later, we have lost £4 billion from our capital budget, and there is rising unemployment. Can you update the House on any progress to reduce radically Northern Ireland’s level of corporation tax, bearing in mind that we are in competition with the Irish Republic, which this country bailed out recently?

[The Prime Minister]

I remember the visit that the hon. Gentleman mentions, and one of the things we said was that we would sort out the Presbyterian Mutual Society, and I am proud to say that we have done that and delivered that important pledge to people in Northern Ireland. Everyone in Northern Ireland knows that we have got to rebalance the economy: the public sector is too big, the private sector is too small. My right hon. Friend the Northern Ireland Secretary is looking at all the potential of things such as enterprise zones and different tax rates to try to help to bring that about. That is exactly what we are committed to.