Oral Answers to Questions

Debate between Baroness Ritchie of Downpatrick and David Gauke

Tuesday 29th November 2016 Commons Chamber

[Ms Margaret Ritchie (South Down) (SDLP)]

T10. Will the Chancellor confirm that the devolution of corporation tax, which is conditional on the Northern Ireland Executive’s finances being on a sustainable footing, is not a vehicle for the Treasury to interfere in Northern Ireland’s devolved policies?

[Mr Gauke]

It is not a vehicle to interfere, but we have been clear from the very beginning that if the Northern Ireland Executive wish to reduce corporation tax rates in Northern Ireland, they need to do so in an environment in which we can be confident that the public finances are on a sound footing in Northern Ireland.

Oral Answers to Questions

Debate between Baroness Ritchie of Downpatrick and David Gauke

Tuesday 25th October 2016 Commons Chamber

[Mr Gauke]

I agree that removing distortions in the economy results in a more efficient economy. The UK Government have a record of doing that, by, for example, reducing corporation tax.

[Ms Margaret Ritchie (South Down) (SDLP)]

Apart from lowering corporation tax what other steps will the Chancellor and his ministerial team take to incentivise manufacturing industry in Northern Ireland?

[Mr Gauke]

The freedom for Northern Ireland to set its corporation tax rate is an important measure in itself. We look forward to further progress on that. Of course, there will be an autumn statement next month in which the Government will set out their economic policy. I have mentioned corporation tax and R and D tax credits, which we have made more generous. Those measures will have helped manufacturing businesses in Northern Ireland and elsewhere.