I was pleased to hear respected figure Sir Anthony O'Reilly repeat his call for taxes to be unified across the island of Ireland in order to help economic growth in the North.Sir Anthony, chief executive of Independent News & Media, which owns The Independent and the Belfast Telegraph, said that, with a new Assembly and Executive about to take power in Belfast on May 8th, NI had all the right ingredients to become a major growth market - "with the exception of tax". He added:
"The inflow of foreign investment has largely passed Northern Ireland by. I strongly believe that a reduction in corporation tax would go a long way to redress the balance and open new opportunities for the local economy."
Of course this is a view shared by most across the island and the idea of lowering the rate of corporation tax and the North's political parties are expected to press Gordon Brown for the lowering of the NI's tax rate.
I welcome this proposal wholeheartedly. The lowering of the corporation tax in the North will do a lot to stimulate growth across the entire island.
More importantly, the sooner we bring about economic unity in the island; the sooner we can bring about political unity in the island. Let's make it happen.
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