NI to Reap The Benefit Of Devolved Corporation Tax
06 February 2015
The Chairman of the Institute of Directors (NI), Paul Terrington, has told guests at this year’s IoD Annual Dinner that the financial benefits of devolved corporation tax to the local economy far outweigh the costs.
Speaking on Thursday evening at the Europa Hotel, Belfast, Mr Terrington said:
“We believe the case is strong for the economic benefits of lowering the rate of Corporation Tax and at the same time, I believe it will bring some less tangible but potentially equally important benefits.
“The more accountability we take on to ourselves, the more we will really put the economy at the heart of government programmes.
“Devolving corporation tax setting powers is the start, not the end, of a process where we can be much more ambitious in terms of what is possible.”
The Chairman also signalled his support for the forthcoming Carnegie Institute report.
“The Carnegie Institute’s Roundtable on Well Being in Northern Ireland sets out a series of strategic outcomes and key performance indicators for government departments.
“It offers some interesting food for thought and is aimed at promoting a wider debate.
“IoD welcomes the proposals and some of the thinking around the role of government in delivering outcomes, rather than inputs.”
The IoD Annual Dinner is the highlight in the local business calendar. Sponsored by Bank of Ireland and Arthur Cox solicitors, the evening also honoured Northern Ireland’s leading local director.
Chief Executive and Principal of Belfast Met Marie-Thérèse McGivern was announced as the winner of the 2015 Institute of Directors (IoD) Lunn’s Award of Excellence.
Marie-Thérèse was nominated for the Award as one of the category winners of the IoD NI First Trust Bank Director of the Year Awards held in November, where she took the title of Public Sector Director of the Year.
She was presented with the Award of Excellence perpetual trophy and a Rolex Daytona wrist watch by Suzanne Lunn, Marketing Director of Lunn’s the Jewellers, Northern Ireland’s leading jeweller. She said:
“Marie-Thérèse has positioned Belfast Met at the heart of the business arena by engaging closely with the private sector to deliver a skilled workforce that contributes to the growth of the Northern Ireland economy.”
“Throughout her career she has been driven by a fundamental belief that we all have a duty to hand our cities to our children in a better state than we found them."