News story

Launch of consultation paper on rebalancing the Northern Ireland economy

This news article was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government

The Treasury has today launched a 3-month consultation on ideas to rebalance the Northern Ireland economy.

The Treasury has published the consultation paper which considers options for raising employment, improving productivity and promoting growth, including possible mechanisms for devolving corporation tax rate varying powers to Northern Ireland.

Owen Paterson said:

The launch of this consultation demonstrates that this Government is willing to consider a wide range of options for rebalancing the economy. The paper was an election pledge and a key commitment for Northern Ireland in the coalition programme for government. It includes a comprehensive and balanced discussion on the potential for the setting of the rate of corporation tax in Northern Ireland to be devolved to the Northern Ireland Executive. I would encourage people and businesses throughout Northern Ireland to contribute their views to the Treasury during the consultation period.

You can read the full HMT Consultation Paper on the HM Treasury website.