Statement by TUV leader Jim Allister:
“I welcome the announcement in the budget today that the rate of corporation tax will be cut to 19% in 2017 and 18% in 2020.
“Northern Ireland would be much better served by benefiting from this UK wide cut in corporation tax than embarking on the folly of having the power devolved. By keeping a unified taxation system Northern Ireland gains from the reduced burden which today’s announcement will lead to on local business without having tens of millions slashed from our block grant and having less money for our schools, hospitals and roads by setting our own rate.
“The current chaos at Stormont – with the nonsense of fantasy budgets and insufficient money to cut roadside verges – tells us all we need to know about the ability of MLAs to manage this sensitive economic power.”