Cut in Northern Ireland corporation tax ‘will create 58,000 jobs’

Another new report on reducing Northern Ireland’s level of corporation tax has claimed that pre-announcing the move by next year would help create 58,000 extra jobs by 2030. It also claims 42% of those would come from foreign direct investment.

The Economic Advisory Group’s (EAG) paper ‘Impact Of A Reduced Corporation Tax’ also said the standard of living will improve by £24,500 per person and export sales could rise to £15bn.

The paper forecasts that if no change happens, it will be over a decade before Northern Ireland employment levels recover to their 2008 peak, and that the continuation of the status quo offers “no prospect” for rebalancing the economy.

Only two of the main sectors in the economy here were larger in 2010 than they were in 2007 — health and education, both of which are heavily reliant on public funding.

read more / source http://www.belfasttelegraph.co.uk/business/business-news/cut-in-northern-ireland-corporation-tax-lsquowill-create-58000-jobsrsquo-16004879.html