“Northern Ireland will become a ‘Liechtenstein on the Lagan’ transforming Northern Ireland into a de facto tax haven for big business”, Workers Party has warned.
As Chancellor George Osborne prepares to announce that Northern Ireland will be given responsibility for its own corporation tax the Workers Party has warned that the move will create economic loopholes and exemptions providing a deregulated economic environment through which money can pass with few questions asked.
“The headline rate of corporation tax may or may not change”, the Party said, “but, Northern Ireland will be transformed into a de facto tax-haven”.
“It may well be presented an “enterprise zone”, or something similar, (an approach particularly favoured by Sinn Fein), but there will be little actual enterprise beyond the shifting and hiding of money” siad the Workers Party.
“Although all the parties in the Stormont Coalition seem to view this move as a holy grail, it will do little to bring jobs to Northern Ireland”.
“Have local politicians learned anything from what happened in the Republic of Ireland?” asked Mr Lowry. “The grim reality is that this move has nothing to do with creating jobs and everything to do with making Northern Ireland a tax haven for the rich with all the moral and political baggage that entails”, the statement concluded.