Dodds meets Varney Review Team

Economy Minister Nigel Dodds met with Sir David Varney today to discuss the issue of tax policy in Northern Ireland.

Sir David has been appointed by the Chancellor of the Exchequer to oversee the review of tax policy here.

Speaking today, Minister Dodds said: “We have been pressing the Chancellor for a lower rate of Corporation Tax to enable us to attract more high value added Foreign Direct Investment. I was therefore pleased to have this early engagement with Sir David and I look forward to contributing further to the Review, along with my Executive colleagues, as it develops.

“When I met with Sir David today, we discussed the NI economy and I explained that a reduced rate of Corporation Tax – though not a silver bullet – would make the single biggest contribution to accelerating economic growth and to reducing our dependence on the public sector.”

The Minister emphasised the need for economic development and committed himself to working to secure sustained investment in research and development (R&D) and innovation and to improve productivity and exports.

Mr Dodds concluded: “We owe it to every citizen in Northern Ireland to develop an economy that is able to compete globally and to deliver the necessary increases in income and living standards.”