Corporation Tax

Debate between Philip Davies and Owen Paterson

Monday 21st May 2012 Ministerial Corrections

[Philip Davies (Shipley) (Con)]

I know that the Secretary of State is, like me, a great believer in low taxes to stimulate the economy. What discussions has he had with the devolved Administration in Northern Ireland, and with the Treasury, to try to lower the corporation tax rate in Northern Ireland?

[Mr Paterson]

My hon. Friend will be pleased to hear—and the Leader of the Opposition will be delighted to hear—that, thanks to the reductions in corporation tax introduced by my right hon. Friend the Chancellor, 57,000 more people are in jobs in Northern Ireland than were in jobs before the election. The ministerial group is working closely with Ministers in the devolved Administration, the Northern Ireland Office and the Treasury to establish whether further steps could be taken to reduce corporation tax and devolve it to Northern Ireland, and we will report later in the summer.

[Official Report, 16 May 2012, Vol. 545, c. 538.]

Letter of correction from Owen Paterson:

An error has been identified in the oral answer given on 16 May 2012 to the hon. Member for Shipley (Philip Davies).

The correct answer should have been:

Oral Answers to Questions

Debate between Philip Davies and Owen Paterson

Wednesday 16th May 2012 Commons Chamber

[Philip Davies (Shipley) (Con)]

8. Whether he has made an assessment of the potential effect on the Northern Ireland economy of changing the corporation tax rate in Northern Ireland to that obtaining in the Republic of Ireland.

[The Secretary of State for Northern Ireland (Mr Owen Paterson)]

The low corporation tax rate in Ireland has been a key factor in attracting investment. The ministerial working group chaired by my hon. Friend the Exchequer Secretary is considering the potential impact of devolving the power to vary the corporation tax rate to the Northern Ireland Assembly.

[Philip Davies (Shipley) (Con)]

I know that the Secretary of State is, like me, a great believer in low taxes to stimulate the economy. What discussions has he had with the devolved Administration in Northern Ireland, and with the Treasury, to try to lower the corporation tax rate in Northern Ireland?

[Mr Paterson]

My hon. Friend will be pleased to hear—and the Leader of the Opposition will be delighted to hear—that, thanks to the reductions in corporation tax introduced by my right hon. Friend the Chancellor, 57,000 more people are in jobs in Northern Ireland than were in jobs before the election. The ministerial group is working closely with Ministers in the devolved Administration, the Northern Ireland Office and the Treasury to establish whether further steps could be taken to reduce corporation tax and devolve it to Northern Ireland, and we will report later in the summer.[Official Report, 21 May 2012, Vol. 545, c. 13MC.]