Public Expenditure: Northern Ireland

HM Treasury written question – answered on 4th December 2015.

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Photo of Lord Empey Lord Empey UUP

To ask Her Majesty’s Government by how much they estimate the budget of the Northern Ireland Executive will be reduced annually as a consequence of the decision to introduce a reduced rate of Corporation Tax in Northern Ireland in 2018–19.

Photo of Lord O'Neill of Gatley Lord O'Neill of Gatley The Commercial Secretary to the Treasury

The government is committed to devolving corporation tax powers as provided for by the Corporation Tax (Northern Ireland) Act 2015, if the Northern Ireland parties meet their commitments in the Stormont House Agreement. This includes the Northern Ireland Executive demonstrating that its finances are on a sustainable footing for the long term.

The government is working closely with the Executive to agree a fair adjustment to the block grant covering both the direct and behavioural effects of devolution. Ultimately, however, the impact on the Executive’s budget will depend on the rate set by the Northern Ireland Assembly.

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