New trading status may be third time lucky for North’s economy
Business in Northern Ireland missed out on a reduced rate of corporation tax when the Executive was suspended for three years. Was unionist opposition to Theresa May’s backstop provision really such a good idea?
Twice in the past decade, Northern Ireland business has missed out on opportunities for preferential trading arrangements,
The first missed opportunity had to do with a reduced rate of corporation tax. After years of political and technical manoeuvring, London consented to the application of a 12.5 per cent rate of corporation tax for companies based in the North, on condition that the Northern Ireland Executive could formulate a balanced budget.
The three-year suspension of the executive...
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