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Changing corp tax could create 90,000+ jobs,instead Tory cuts take away around 50,000


st333ve

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" Reducing corporation tax from the current UK-wide rate of 28% to the 12.5% levied on firms in the Republic of Ireland would be the best way to revitalise the region's flagging economy, according to the Northern Ireland Economic Reform Group.

But the NIEFG said the move was the only measure that would deliver the major structural change needed to get Northern Ireland out of its present economic rut, adding the Government would actually benefit in the long term because the rate cut would create at least 90,000 extra jobs over 20 years, resulting in more revenue from income tax. "

Tax cut 'could create 90,000 jobs' - National News, Breaking News - Enniscourthyguardian.ie

Chancellor George Osborne announced a further £7bn in welfare "savings" were planned on top of £11bn already announced.

London can't say on the one hand it accepts Northern Ireland has a severe level of deprivation, complicated by the legacy of conflict, and then say by the way you'll just have to take equal pain with Britain," he said.

BBC News - Attwood urges Stormont maturity over Spending Review

On one hand it forces our private sector to be stagnant causing deprivation in what is in fact the most highly educated part of the UK ( resulting in a bloated public sector ) - then they knowingly introduce harsh cuts which go against the money promised in the St.Andrews agreement and are unacceptable considering the region is the most deprived.

I know many people working in the public sector who believe that the increased threat level in Britain towards Dissident Republican violence is actually to discredit the region so it can introduce cuts and renege on its commitments in the St.Andrews agreement without public or political opposition in Britain.


The British government has no interest in allowing the economic development of Northern Ireland.
This is blatantly obvious.
It is an active barrier towards it.

Northern Ireland GCSE students score top marks, highest in UK.
http://www.bbc.co.uk/news/uk-northern-ireland-11066226

Northern Ireland A-level students outperform rest of UK
http://www.belfasttelegraph.co.uk/news/education/northern-ireland-alevel-students-outperform-rest-of-uk-14916115.html
 


Garza

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Damn, I forgot my tin foil hat today.
 

dazzler

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Corporation tax will never change in NI within the UK. Also the 4 billion in cuts are necessary to bring the six counties to a more self sustaining position. The block grant needs to be cut throught growth in the private sector and cuts in the public sector.
 

Boiled Oysters Malloy

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Any word on the Silicon Valley in Belfast yet?
 

Northern Voice

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Does it not seem a bit fantastical that our representatives would miss an opportunity to create 90,000 jobs?
 

Ó Ghabhainn

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Does it not seem a bit fantastical that our representatives would miss an opportunity to create 90,000 jobs?
Have they not called for the tax-rate to be lowered? Has Nick Clegg not mentioned it also, in that it is something to be discussed (but not necessarily moved on)?

On the other hand, if it did go ahead, what would the attitudes of Scotland and Wales be? And is this why it doesn't happen?

How you can believe that this would not help is beyond understanding.

It won't happen in the UK. And people will be out of jobs because of this - the cut in the public sector and the inability of the private sector to grow.
 

st333ve

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Does it not seem a bit fantastical that our representatives would miss an opportunity to create 90,000 jobs?
It would sound fantastical if they actually weren't pushing for it, However they aren't missing the opportunity, every political party here supports it - that's actually a very rare 100% mandate.
The Tories who won ZERO seats here are the ones who call the shots.


"A unified front on the taxation of trading activities on the island of Ireland will attract investment from abroad, and support all island markets to the direct benefit of both economies. We also believe that a corporation tax rate in the North which is in line with the South will encourage investment from South to North as well as from North to South," the ICAI’s Vice-President Jim Aiken told those attending the official opening of the ICAI’s new offices in Belfast city centre, performed by First Minister of Northern Ireland Dr. Ian Paisley.

"Growing prosperity north of the border generates growing prosperity south of the border, and vice versa if the conditions are right. We are making the conditions right by facilitating the ready movement of goods cross border, and our shared EU Membership has been integral to this. We must now take the next steps ourselves towards facilitating the ready movement of labour and services," Aiken argued.

http://www.tax-news.com/news/UK_Government_Rejects_Unified_Irish_Corporate_Tax____27467.html

British politicians will never allow this corporation tax rate as it would suit our economic needs, However UK businesses would register here and Britain's economy could be impacted and that is what they are actually concerned about.

It's better to keep the north and it's people in a state of limbo where economic growth is impossible, this also has an impact on the Republics economy rendering the competition from Ireland overall as minimal.
It's actually quite clever as blocking private sector investment means people are more reliant on state jobs, if they rely on state jobs they support full state control of their affairs.

The north has the highest education standard in the UK but the worst economy by far, it simply doesn't add up.
 
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st333ve

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Any word on the Silicon Valley in Belfast yet?
There has been a lot of U.S. IT investment in Belfast, it's actually a growing sector despite the recession.
Low wages and a high education standard make it ideal for such investment, it's just a shame the corporation tax is nearly 30%.

No-one is suggesting it will turn into Silicon Valley but it has been attracting focus from the US IT sector.

The IT Jobs sector in Belfast and Northern Ireland is a vibrant sector with over 700 ICT companies ,of which 100 are international investors. This sector contributes 70% of NIs GDP. The sector has a forecast growth of 2.4% per annum until 2021 (three times NIs overall growth rate).

http://www.blueprintappointments.com/SectorSpecialisms/ITSector/tabid/70/Default.aspx
 

Amach na Casca

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Being part of the UK is really holding back the 6 county region from developing. The problem is a lot of people would rather the area remained a deprived region under British rule than become more developed as a region within the Irish state where it could be huge beneficiaries of lower corporation tax.

Maybe in time some unionists will come around to the idea that being a part of the UK whilst cuturally desirable for them is in fact detrimental to their regions prosperity.

Its sad that while ni has the most educated workforce within the uk its people have the least opportunites. Hopefully this will change.
 

st333ve

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You can't dictate economic policies onto northern Ireland from Britain.
The economic policies which suit Britain will never suit northern Ireland.

Britain has almost 60 million people.
Northern Ireland has about 1.7 and is bolted onto the Republic which can adopt its own policies to suit its own economy, effectively leaving the north incapable of attracting investment.
 

physicist

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There has been a lot of U.S. IT investment in Belfast, it's actually a growing sector despite the recession.
Low wages and a high education standard make it ideal for such investment, it's just a shame the corporation tax is nearly 30%.

No-one is suggesting it will turn into Silicon Valley but it has been attracting focus from the US IT sector.

The IT Jobs sector in Belfast and Northern Ireland is a vibrant sector with over 700 ICT companies ,of which 100 are international investors. This sector contributes 70% of NIs GDP. The sector has a forecast growth of 2.4% per annum until 2021 (three times NIs overall growth rate).

IT jobs in Belfast, Northern Ireland IT Jobs Belfast IT Jobs
IT isn't engineering, outside of Seagate and possibly Andor, there are few places real electronic and electrical engineers actually can work in Northern Ireland.

Feel sorry for the lad who's trying to upgrade his 2:2 to a 2:1 degree at Queen's University, just years on the dole queue for him.
 

physicist

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Being part of the UK is really holding back the 6 county region from developing. The problem is a lot of people would rather the area remained a deprived region under British rule than become more developed as a region within the Irish state where it could be huge beneficiaries of lower corporation tax.

Maybe in time some unionists will come around to the idea that being a part of the UK whilst cuturally desirable for them is in fact detrimental to their regions prosperity.

Its sad that while ni has the most educated workforce within the uk its people have the least opportunites. Hopefully this will change.
Indeed, many economic unionists have said it would be impossible for the Republic of Ireland to match the UK in terms of spending on health, education and transport ... with talks of tolls, school amalgamations, and prescription charges, quite a few are thinking.

Low coperation tax in Northern Ireland would not happen under the UK, even if the UK did pullout of the EU and their restrictions on tax.
 

st333ve

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While people squabble over British scraps, another American IT firm shows interest here.
A small company.
Most are, because the Corp tax for large companies is almost 30% compared to the Republic 12%.
Businesses only go where profit is maximised, the high education standard here makes the place viable the economic policies are a total deterrent .

UTV News - Software firm to create 106 Newry jobs

106 jobs are expected to generate more than £2.7m per year in salaries.

Technology firm MRP, which was acquired by First Derivatives in 2008, specialises in designing marketing and sales strategies for companies including Microsoft.

In recent years, we have been seeking to establish a base in Europe, and locating in Newry obviously allows us to further develop synergies with First Derivatives," company spokesperson Kevin Cunningham said.

"We also chose Newry because of the local talent pool and the opportunities which a competitive location like Northern Ireland offers us, as well as the support offered by Invest NI.

We don't need money saving cuts, we need suitable taxation policies which attract large investment and large salaries boosting the economy here and giving the assembly money through taxes.
 
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st333ve

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Difficult, if not impossible, to get past concerns like this from Britain:

Warning over Northern Ireland corporation tax cut
But isn't that my point?

"Concern for Britain" is what this man is worried about.
I'm worried about where I live not Britain, and this place is treated like some backwater nuisance.
We sacrifice a lot to have no economic growth and have to live off their subsidy instead.

Northern Ireland's economic policies suit Britain, not northern Ireland.
That's what this man is saying, "why should northern Ireland have suitable policies? It won't help us".
 

Sync

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90,000 jobs over 20 years is 4500 a year. It's currently at about 70,000, so we're talking about an immediate impact of 6%.

What argument does NI have that this should happen for them and not for Wales? Or Scotland? Or England? It's ridiculous. If they drop, yes you'll pick up a very small amount of firms from the Republic due to the lower cost economy in the UK, but you'll mostly be picking up firms relocating from England/Scotland/Wales.

So companies move from the other UK countries to set up their HQ in NI to benefit from say a 5% swing. I move my company's financial reporting centre employing 10 people from London to Belfast to take up the new 23% corp tax there. What's the benefit? 10 people out of work in London, 10 people in work in Belfast, and a loss of 6% corp tax to the exchequer.

Practically, how on earth is it suggested that would work? Everyone would bloody do it, it's just a shell game that would end up robbing the exchequer. The idea of having different tax bands within the UK is ludicrously unworkable.
 

Purplestar

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Yes but according to Steeeeve Northern Ireland should be treated differently than the rest of the UK. Nothing discriminating in that idea at all. Until bombs are a thing of the past no major companies will be bothered choosing us over the mainland and why the hell should they.
 

st333ve

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I think the north should be treated differently because obviously it is.
England isn't split in two with one region having more competitive suitable policies, with the other part adopting policies from another country.
Even population density here is totally different, also it's overseas.

I want jobs HERE for the people I know, the area I live in.
Unionists might be more concerned with Britain's economy and they might be happy enough that we suffer for their convenience but I'm more concerned about what effects me, thank you very much.

It's not just corporation tax, any economic policy that is dictated upon us from England on the basis of this policy being what is suitable for England - needs looked at and possibly changed to allow our highly educated workforce to shape its own economy.
 

Scipio

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Practically, how on earth is it suggested that would work? Everyone would bloody do it, it's just a shell game that would end up robbing the exchequer. The idea of having different tax bands within the UK is ludicrously unworkable.
Precisley.
 

Sync

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I want jobs HERE for the people I know, the area I live in.
Unionists might be more concerned with Britain's economy and they might be happy enough that we suffer for their convenience but I'm more concerned about what effects me, thank you very much.
It does affect you. NI is subject to hundreds of millions of handouts from the English, Scottish and Welsh taxpayer. You don't contribute anything, on net you're a drain on the exchequer. You solution is to further drain that exchequer so NI people can have jobs while simultaneously making English, Welsh and Scottish people redundant. Now where do you think the exchequer would make up that shortfall? Hint: The support funds you already get.

Honestly, I know you're approaching this from a local pov, but think about the logistics and the economics of what you're talking about. It's ridiculous.

It's not just corporation tax, any economic policy that is dictated upon us from England on the basis of this policy being what is suitable for England - needs looked at and possibly changed to allow our highly educated workforce to shape its own economy.
So vote for people that don't want to be in a union with England. Problem solved. Same thing for people in Ireland, if you don't want to be part of the EU and be subject to the same restrictions, vote for people who want to leave it.
 

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