Progress on corpo tax

DUP MP Gregory Campbell asked the Secretary of State Owen Paterson what assessment he had made of proposals to devolve power to set the rate of corporation tax in Northern Ireland to the Northern Ireland Assembly.

The Northern Ireland Minister replied: “Arrangements under which such devolution might take place, with the agreement of the Government and the Northern Ireland Executive, are under consideration in the Joint Ministerial Working Group on Rebalancing the Northern Ireland Economy.”

But further pressed by Shadow Secretary Vernon Coaker MP, he added: “Ministers from the UK Government and the Northern Ireland Executive attended the Ministerial Working Group on Rebalancing the Northern Ireland Economy in Belfast on June 25.

“Good progress has been made on some aspects of the group’s work, including the potential shape of a devolved corporation tax regime, but there remain some crucial areas where significant differences of opinion still exist, including on the potential costs to the Northern Ireland block grant.

“Officials will continue to work over the summer to seek to resolve these differences and the Ministerial Working Group has agreed to meet again in September.”