Corporation tax reduction suggested for North
Foreign direct investment in Northern Ireland could increase dramatically if corporation tax was reduced to the same level as the Republic.
Goodbody Stockbrokers have carried out a detailed analysis of the North’s economy which indicates that tax reform is the key to unlocking the potential for growth, which they say could create significant prosperity.
Most of the key factors that are needed for a successful economy are present, according to the group, and what is needed is a number of incentives to develop them.
If corporate taxes were reduced to the Republic’s levels, investment in the region would have been €6.5bn in 2003, 23 times more than it actually received.
The analysis also recommends a reduction in the number of people working in the public sector and further cross-border cooperation.
