Oral Answers to Questions

Neil Carmichael Excerpts

Wednesday 10th December 2014 Commons Chamber

[Robert Jenrick (Newark) (Con)]

2. What steps her Department is taking to strengthen the economy of, and increase inward investment to, Northern Ireland.

[Neil Carmichael (Stroud) (Con)]

3. What steps she is taking to promote business investment in Northern Ireland.

[The Parliamentary Under-Secretary of State for Northern Ireland (Dr Andrew Murrison)]

May I first thank you, Mr Speaker, Opposition Front Benchers and the House for your indulgence in allowing the Secretary of State to be absent, exceptionally, today? As you know, she is chairing the extremely important talks at Stormont, and we hope that they will come to a satisfactory conclusion very soon. She takes her duties in this House very seriously, as you know, and she is grateful to you for your indulgence today.

The Government’s long-term economic plan is working for Northern Ireland, and the UK Government continue to work with the Executive to promote Northern Ireland as a great place to invest. Political stability is paramount in attracting further investment, and I encourage the parties to make significant progress in the current cross-party talks.

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[Dr Murrison]

The Chancellor has expressed our desire to devolve that power to the Executive, and the Executive are keen to take it on. The extent to which it will impact on the Northern Ireland economy is of course a matter for the Executive—as is the level at which they wish to pitch corporation tax, once devolved—but they have suggested that up to 40,000 jobs might be created in Northern Ireland by having the power. It is particularly important for encouraging the private sector. As my hon. Friend will know, we are trying with the Executive to rebalance the economy so that the private sector is encouraged, and the devolution of corporation tax is an important part of that.

[Neil Carmichael]

Does the Minister agree that the Government’s key extra measure of focusing on skills and making sure that people are properly trained, coupled with business investment, is precisely the way to improve productivity and therefore living standards?

[Dr Murrison]

I absolutely agree. My hon. Friend will have noted that the changes to national insurance in particular in the autumn statement are very much focused on getting young people into employment. The national insurance rebate is extremely helpful for small business in particular. He will have read with pleasure, as I have, the list of firms that are increasing their presence or investing for the first time in Northern Ireland. It is truly impressive, and it just shows what a great place Northern Ireland now is in which to invest.