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25/06/2012
NI Planning On Skills For Lower Corporation Tax
Employment and Learning Minister Dr Stephen Farry launched a research report into the impact of a lower corporation tax in Northern Ireland on the demand for skills, labour and innovation capacity.
Commissioned by his Department, the report, ‘Preparing for a Lower Corporation Tax Environment’, indicates that a reduction in Northern Ireland’s Corporation Tax rate to 12.5% could create double the jobs that would otherwise be produced locally – that equates to 58,000 additional jobs by 2030.
The research looked at best practice internationally and shows that skills will be critical in driving out the full benefits of a lower corporate tax regime.
The Minister said: "This research shows that others have secured economic success in a low tax environment by having a clear understanding of the demand for skills, responding quickly to market changes and increasing the quantum, quality and relevance of available skills.
"This report undoubtedly puts Northern Ireland in a stronger position to understand, plan for and take advantage of the full benefits of a lower Corporation Tax environment. The findings will help us build on our current skills development work and ensure we are continuing to support the region's future economic success."
(CD)
Commissioned by his Department, the report, ‘Preparing for a Lower Corporation Tax Environment’, indicates that a reduction in Northern Ireland’s Corporation Tax rate to 12.5% could create double the jobs that would otherwise be produced locally – that equates to 58,000 additional jobs by 2030.
The research looked at best practice internationally and shows that skills will be critical in driving out the full benefits of a lower corporate tax regime.
The Minister said: "This research shows that others have secured economic success in a low tax environment by having a clear understanding of the demand for skills, responding quickly to market changes and increasing the quantum, quality and relevance of available skills.
"This report undoubtedly puts Northern Ireland in a stronger position to understand, plan for and take advantage of the full benefits of a lower Corporation Tax environment. The findings will help us build on our current skills development work and ensure we are continuing to support the region's future economic success."
(CD)
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Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
