{"id":8377,"date":"2011-01-07T13:22:07","date_gmt":"2011-01-07T11:22:07","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=8377"},"modified":"2011-01-07T13:22:08","modified_gmt":"2011-01-07T11:22:08","slug":"pwc-say-northern-ireland-should-not-cut-tax-rate","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2011\/01\/07\/pwc-say-northern-ireland-should-not-cut-tax-rate\/","title":{"rendered":"PWC say Northern Ireland should not cut tax rate"},"content":{"rendered":"

I have written more than I ever expected<\/a> to on the proposal that Northern Ireland should cut its tax rate to 12.5% in an attempt to emulate the financial success (!) of the Republic of Ireland. In a nutshell, I am quite sure the policy would be an outright disaster, and may not even be legally possible.<\/p>\n

Support comes from an unlikely quester today, according to the Belfast Telegraph<\/a>:<\/p>\n

\n

Cutting Northern Ireland's rate of corporation tax is unlikely to attract significant volumes of new overseas investment, a report has claimed.<\/p>\n

Business advisers PricewaterhouseCoopers (PwC) describe cutting corporation tax as a \"relatively blunt instrument\" in the latest shot across the bows in the debate over bringing the main 28% rate into line with the Republic's 12.5%.<\/p>\n

As part of the report 'Corporation tax - game changer, or game over?' PwC surveyed tax regimes in 182 countries. The survey showed that the UK, including Northern Ireland, had the sixteenth most business-friendly regime despite having a higher corporation tax rate than many other countries.<\/p>\n

PwC also said that matching the Republic's corporation tax rate could cost the Assembly around \u00a3280m a year, with no certainty of an equivalent uplift in new foreign direct investment.<\/p>\n<\/blockquote>\n

I am delighted they have had the honesty to agree.<\/p>\n

This policy proposal really does look like dogma gone mad.<\/p>\n","protected":false},"excerpt":{"rendered":"

I have written more than I ever expected to on the proposal that Northern Ireland should cut its tax rate to 12.5% in an attempt
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