Economic progress can be delivered by Assembly - McKay

SINN FEIN'S Westminster Candidate for North Antrim, Daithí McKay, has said that if local politicians really want to take charge of kick-starting the economy they should be calling for the devolution of taxation powers to the local Assembly.

The North Antrim MLA also wants to see small and medium sized businesses at the heart of economic recovery and said that he would continue to put a focus on Invest NI and Public Procurement Procedures in the interests of SMEs.

Mr McKay said: “The inability to change the tax system seriously curtails the capacity of local political leaders and policy makers to react to changes in the economy. And lets face it, economic policy set in Britain, which affects people living in the north of Ireland, is not set in the best interest of people living here but in the best interests of people in Britain. It does not take into account the fact that we have two currencies on this island, nor that the economy in the north has a corporation tax rate substantially different from that in the south.

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“This part of Ireland is labelled a ‘basket-case economy’ for good reason and this will remain the case until there is a harmonisation of such tax rates and further joined-up thinking when it comes to economic policy,” said Mr McKay.

“The British Government in Westminster will not deliver this and other local parties should not try and fool people into thinking that their influence will deliver this change in economic policy. The only way that this can be delivered is through the Assembly which has the political will to act in the best economic interests of the population and that is why taxation powers must be devolved.

“The absence of economic sovereignty – especially the fact that taxation and public spending policy in the north are set by the British Government – constitutes a massive obstacle to economic development and quality public service provision,” said Mr McKay.