Thursday 17 August 2017 10:53:18 AM

SDLP And Secretary of State Discuss Corporation Tax
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SDLP Leader and South Down MP Margaret Ritchie has encouraged small businesses to respond positively to the consultation on corporation tax after meeting with the Secretary of State on the matter on Thursday (7th July).

Ms Ritchie led a party delegation that met with Owen Patterson to discuss a range of issues, most notably corporation tax.

She said, “I encourage people, particularly small business owners to respond to the corporation tax consultation as the Secretary Of State informed us that the decision may come down to the number of responses they receive from the consultation.

“I also sought assurances from the Secretary of State what costs this would incur on the block grant and raised the important issue of the VAT rate here compared with the South.

“Owen Patterson confirmed that the Treasury still remains unconvinced as to the benefits in the reduction of corporation tax. With continued negative messages from Stormont’s Finance Minister, it’s imperative that businesses impress upon the consultation process.

“If we are to move our economy out of recession, and onto a new growth trajectory, then we need to take control of more economic levers.”