TUC and ICTU oppose lower Corporation Tax for Northern Ireland

Interesting to note ICTU Deputy General Secretary Peter Bunting, now sitting on that interim NI Water Board, welcoming a TUC report critical of attempts to lower corporation tax here.  From the Belfast Telegraph report

ICTU Deputy General Secretary Peter Bunting said: “This paper should once and for all lay to rest the argument by some vested interests in Northern Ireland that a low corporation tax regime would assist economic growth for all, as opposed to private profit for the few.”

As far as I’m aware, all the political parties within the NI Executive are in favour of reducing corporation tax here

According to the Belfast Telegraph report

A TUC report says that reducing corporation tax to 12.5% would only encourage ‘brass plate’ investment — where companies register their names somewhere for tax purposes without moving staff — so it would fail to generate additional tax revenues or jobs.

Differing tax rates between Northern Ireland and the rest of the UK would be an open goal for tax avoidance, the report says.

Update  In the comments zone John O’Farrell provides a link to the actual report [pdf file].  And, as he correctly points out, it is a report jointly commissioned by the TUC and the ICTU.

Donate to keep Slugger lit!

For over 20 years, Slugger has been an independent place for debate and new ideas. We have published over 40,000 posts and over one and a half million comments on the site. Each month we have over 70,000 readers. All this we have accomplished with only volunteers we have never had any paid staff.

Slugger does not receive any funding, and we respect our readers, so we will never run intrusive ads or sponsored posts. Instead, we are reader-supported. Help us keep Slugger independent by becoming a friend of Slugger.

While we run a tight ship and no one gets paid to write, we need money to help us cover our costs.

If you like what we do, we are asking you to consider giving a monthly donation of any amount, or you can give a one-off donation. Any amount is appreciated.