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Consultation indicates support for devolution of corporation tax to Northern Ireland

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A joint Ministerial Working Group on Rebalancing the Northern Ireland Economy met in December and agreed ‘an intensive programme of work … aimed at examining in detail a range of issues associated with the devolution of corporation tax’, Owen Paterson, Secretary of State for Northern Ireland, said in a Commons written answer yesterday.

Responses to last year’s consultation showed ‘a large amount of support’ for the devolution of corporation tax powers to Northern Ireland, HM Treasury announced last month, with ‘around three quarters’ of respondents in favour.

‘However, support has not been universal and a number of respondents pointed to the complex issues inherent in devolving these powers,’ the Treasury added.

‘No decision has yet been made on whether to devolve corporation tax.  A decision will be taken following the conclusion of work developed by the [working group], which is expected in summer [2012].’