Jonathan Bell
Strangford · Democratic Unionist Party · Northern Ireland
“I did so because terminally ill children were being prevented from getting a hospital place in my area. While attempts were being made to prevent me from coming to the Public Accounts Committee, a terminally ill child was told, after being seen by doctors, that they could not have a hospital place and that, if they needed one, they would…”
“The permanent secretary replied "No" and said that everybody would recognise that every government worked by and on collective responsibility. <BR /> <BR />We are in a mess, and somebody has to shine a light on that mess. It fell to me, and I do not know why. I did not seek it, nor did I want it. I did not want to do it.”
“Let me conclude, Mr Principal Deputy Speaker. The regulations are necessary because of the extreme mess that we have found ourselves in. The points that I made when I had to shine a light on this devastating situation were not made in December. The points were made in writing to the then First Minister in March 2016.”
“The permanent secretary replied, "Well, that is right". <BR /> <BR />There were no regulations on the table when I spoke out. There was no suggestion that we could reduce to zero or even significantly reduce the costs, and we had no legal procedure, that I was aware of, that we could have followed.”
“But I cannot speak authoritatively because, even after the Public Accounts Committee meeting, when I asked the permanent secretary last week whether I could come and see the information that, I believe, legally should be made available to me, I got no reply. Nothing.”
“The second objective that I wanted to achieve was to stop the haemorrhage of public funds. Let us not pretend that the money is still to be spent: tens of millions of pounds of taxpayers' money has already been spent — £85,000 a day, day by day, as we go along.”
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“I believe that, if we can, during the talks process, resolve the outstanding issues of welfare reform and set a date and rate for corporation tax, Northern Ireland is in for a significantly positive future. I wish the talks every success. <BR /> <BR />Mr Flanagan raised the issue of corporate bodies in clause 1, and I have answered his question. He also talked about the Republic of Ireland. I have no responsibility for the Republic of Ireland and perhaps do not intend ever to have, but I understand that its legislation creates a legal personality for unincorporated associations. There is still an administrative process to establish legal recourse, and it is not clear to me that that would be more advantageous than the current drafting before us. It was considered by DETI and deemed inappropriate.”
“We spoke to the Ulster Unionist Party about there being business as usual, and it chose to do business as usual with Sinn Féin and not respond, and that is why we took our decision not to do business as usual. <BR /> <BR />As part of the talks team, I can assure Members that we are working extremely hard to resolve those matters. Northern Ireland is potentially in a very good place. I am looking at unemployment figures of 6·5%. Unemployment in Ireland is 9·9%. The European Union average is 9·6%. When we benchmark, our figure is almost a third lower. I am dealing with companies and, in the weeks to come, hope that announcements will be made about literally hundreds of new jobs for Northern Ireland.”
“We cannot allow business as usual in any situation. There were responses to how we would respond to that. The Member who seeks to speak now, but who will not, originally raised the question. We discussed it with your party leader, who was on the same page as us before he took it to your party membership. That is the embarrassment of the situation.”
“I said to Members that the Bill will now go forward. I want to talk about the points that Members have raised, so I will not get into an interaction at this time. <BR /> <BR />A number of Members mentioned the political situation in Northern Ireland. I join those Members who are hoping for a successful outcome to the talks, but I will spend a minute responding to the many minutes of criticism. Shamefully, nobody mentioned the murder of Kevin McGuigan when those criticisms were made. Those who think that citizens can be murdered on the streets and that, with the PSNI assessment, we can carry on with business as usual are deluding themselves and not serving the interests of jobs and employment in Northern Ireland.”
“CREDS refers only to credit unions, and clause 10 refers only to IPSs. CREDS is not a transferred matter and is outside the scope of my Department and the Assembly.”
“I understand that that will include a reference to credit unions in Northern Ireland. Many of the changes are similar to those that are currently operating in GB and the regulatory authority is, therefore, well-versed in these areas of change and will provide the regulatory advice when it is approached. <BR /> <BR />I want to clarify something around clause 10 of the Bill, which Mr McGlone raised in terms of CREDS reform.”
“It could result in a potential risk to credit unions if these organisations were to default on their loans. It is for that key reason that the Bill provides that these accounts should be held in the name of an individual or individuals. It offers a level of protection for the credit union, as there is a direct connection with the borrower. <BR /> <BR />The Committee Chair also raised the issue of the changes that have been made to the running of credit unions. The majority of the proposals are voluntary, so individual credit unions are free to decide whether to undertake the changes. The FCA and the Prudential Regulation Authority (PRA) have indicated that a revision of the credit unions new sourcebook (CREDS) manual for credit unions across the UK is likely in the near future.”
“We got involved in areas of confidentiality and trust and we shared a lot of information with the Committee, which was mutually respected. As a result of that, we have a Committee that has actively done its job in being a critical friend and has helped us get to the stage that we are at with this piece of legislation. <BR /> <BR />We raised the issue of why unincorporated associations, for example, sports clubs, could not hold an account in the name of the organisation. Members are right in their understanding that these accounts will have to be held in the name of an individual. That is because unincorporated associations — unlike companies, which are corporate — do not have a legal personality. This means that they cannot sue or, in turn, be sued.”
“<BR /> <BR />I know that my story is only one of thousands of stories where credit unions have been a lifeline in supporting communities, local businesses and individuals and in helping people into work and in keeping jobs when money was needed. Mr Dallat gave us a distinguished history of the credit unions. We want to pay tribute to all those individuals who brought us to the place where we are. The work that we have done in the House today and will do in future on the Bill will build on and improve the legacy that we were given and that we benefited from. <BR /> <BR />I want to pick up on a number of issues that were raised. I thank the Committee for Enterprise, Trade and Investment — the Chair, Deputy Chair and members past and present who were part of this.”
“I thank all the Members who contributed to the debate. It is an important debate, and it is wider than the credit unions. I join with all the praise that has been given to the people who — often very selflessly and unselfishly — give of their time, energy and talents to their local communities. I had the privilege of growing up in a working-class community, and I know just how much the credit unions mean. When I started my first job in health and social services I went to my local credit union, because I needed a car and could not afford the loans that were on offer. I turned to my local credit union at the Orange hall in Ballymacarrett, and it gave me a loan for my first car, which allowed me to undertake my professional duties in health and social services.”
“On a point of order, Mr Speaker. When political points are made that are outside the context of this debate, do I have your permission to respond to them in addition to replying to the debate?”
“On a point of order, Mr Speaker. My understanding is that, when we are speaking on legislation, we have to speak on the legislation and the topic of it. I am happy to respond to the need to respond to the murder of Kevin McGuigan from the Member's party, whose Minister has already resigned and left us in the lurch in DRD and left the Department in a mess. I will respond to those things, if I am allowed to do so, but I think it is unfair for Members to make allegations, while the rules that apply to me are that I must speak to the legislation.”
“<BR /> <BR />The Bill is broad-ranging, and its provisions follow a thorough and productive process of engagement with stakeholders in the sector and further afield. It will help to modernise the environment in which credit unions, cooperatives and community benefit societies operate and help them to adapt to a rapidly changing financial and economic environment. <BR /> <BR />I look forward to Members' contributions. I ask that they make their contributions now — their time is unlimited because it is legislation — and I will seek to respond to them during my closing statement as opposed to being interrupted. I will try to cover as many as possible.”
“Clause 10 removes a restriction on shareholding and will allow members to hold an unlimited number of shares that can be transferred to other members. It also raises the limit on withdrawable shares that an individual can hold in a society from £20,000 to £100,000. That amount has not been increased since 1991, and it should facilitate greater investment in the sector. Clauses 11 and 12 are also deregulatory. Clause 11 allows societies to choose their own year of account, and clause 12 removes a requirement to audit interim accounts. Both clauses remove unnecessary regulation and make it easier for societies to carry out their day-to-day business. Clause 13 is the final substantive clause, and it will make it easier for dormant societies to dissolve, removing administrative burdens from remaining societies and from government.”
“The Bill will remove that restriction, allowing societies to set their own membership age limit. The Bill will also reduce from 18 to 16 the minimum age at which persons can hold office. The clause also gives societies the freedom to maintain the existing age restrictions if it suits their circumstances.”
“The term "industrial and provident society" is generic and covers two types of organisation, cooperative societies and community-benefit societies. Although administratively useful, the expression is not truly descriptive of either type of society and may not be helpful to those who are unfamiliar with the sector. Therefore, clause 8 will require new societies to be registered as one or the other as appropriate and will rename industrial and provident societies legislation. <BR /> <BR />Clause 9 gives societies greater freedom in how they engage with younger people. At present, only those over 16 years of age can be members of a society.”
“<BR /> <BR />I have talked about credit unions, but this Bill will also update the legislation applying to industrial and provident societies. These societies comprise an important part of Northern Ireland's commercial landscape and represent some of our largest and most successful businesses. Public consultation in 2013 sought comments on six proposed measures, and instructive views were received from a range of stakeholders, who, in general, welcomed the suggested changes. The measures included in the Bill are intended to be deregulatory, giving societies greater operational flexibility, with one measure in particular seeking to clarify societies' status. That clarification measure is the first clause in the Bill applying to these societies, clause 8.”
“At present, a credit union can do this only when a dividend of at least 3% is paid. Credit unions stand at the heart of their communities, and it is clear that they place great importance on local development. That 3% restriction, however, can serve to prevent a credit union from making even a very modest contribution. This clause will, therefore, remove that restriction, giving credit unions greater latitude to support their local communities. <BR /> <BR />Clause 7 is a technical measure that will address a lacuna in existing law, ensuring that the directors disqualification regime applies to all Northern Ireland credit unions. The changes that I have outlined will ensure that our credit unions in Northern Ireland will be able to compete more effectively with other providers of financial services.”
“At present, in certain circumstances, a member with a loan may not make a savings withdrawal until they have applied for and obtained permission from their credit union's board of directors. This stands in contrast with most other financial providers. This clause will, in essence, bring the decision on withdrawal forward in time, ensuring that a member taking out a loan knows from the outset whether or not they can withdraw their savings. This removes a degree of uncertainty for members and credit unions. <BR /> <BR />Clause 5 makes a minor change to how much a credit union can charge when it provides a copy of its rules to someone. <BR /> <BR />Clause 6 is another deregulatory measure and applies when a credit union uses surplus funds for social, cultural or charitable purposes.”
“Where that limit is breached, a person could be obliged to change their financial services provider or repay any outstanding loans simply because they have moved house or have changed their job. The clause removes this limit, allowing individual credit unions to decide themselves how many non-qualifying members is appropriate. <BR /> <BR />Clause 3 will allow credit unions to offer a new product: shares that entitle the holder to interest rather than a dividend. This will offer consumers greater choice and allow credit unions to reach a broader customer base. As with corporate membership, there will be safeguards attached to interest-bearing shares, with the aim of ensuring that credit unions are equipped to offer them. <BR /> <BR />Clause 4 concerns members with an outstanding loan and their shareholdings.”
“Clause 1 will allow credit unions, for the first time, to extend membership beyond individuals. Corporate bodies and organisations such as local businesses, community groups and sports clubs will be allowed to save with their local credit union. I should add that the Bill contains safeguards and restrictions that apply to corporate members, and those should ensure that the unique credit union ethos is unaffected. <BR /> <BR />Clause 2 concerns the common bond, which is the qualification for membership of a credit union. The clause specifically concerns members who no longer meet their credit union's common bond; for example, when someone moves to a different area or takes up a new occupation. Those non-qualifying members are currently subject to a limit and can make up no more than 10% of a credit union's membership.”
“<BR /> <BR />A key objective at the outset of this exercise was to examine what services credit unions were permitted to offer in Great Britain and consider whether they should apply in Northern Ireland. However, what is suitable for the credit union movement elsewhere in the UK may not be appropriate for Northern Ireland. There are therefore a number of measures that were consulted upon that are not being taken forward at this time. The resulting policy decisions in the Bill have the aim of giving Northern Ireland credit unions greater operational freedom without moving away from their mutual, socially beneficial and community-based roots. <BR /> <BR />There are seven clauses in the Bill that concern credit unions. I will touch on what each is intended to achieve.”
“To ensure that credit unions operate within the most appropriate regulatory and legislative framework, my Department has taken forward a considerable programme of reform in recent years. In March 2012, regulation of credit unions successfully passed from my Department to the Prudential Regulation Authority and the Financial Conduct Authority. That allowed credit unions to expand the range and type of services that they can offer, and it better protected members' savings. At that time, my Department provided financial support to the Irish League of Credit Unions and the Ulster Federation of Credit Unions so that they could help individual credit unions adjust to the new regulatory environment. The Bill builds on and complements those earlier changes.”
“Following initial discussions with key stakeholders, public consultation on proposed changes took place in 2013. I am pleased to say there has been considerable interest and engagement from the mutuals sector, with significant input from representative organisations, individual societies and trade bodies. Policy proposals were further refined following the helpful input from my colleagues in the Committee for Enterprise, Trade and Investment, who clearly appreciate the role played by mutuals and have given the contents of the Bill a great deal of thought. <BR /> <BR />I would like to turn first to credit unions. Since they were first established in Northern Ireland in the 1960s, they have grown significantly and have come to play a key role in offering financial services to their local communities.”
“The Credit Unions and Co-operative and Community Benefit Societies Bill will update and modernise the law relating to credit unions and industrial and provident societies (IPSs) and represents the latest step in the ongoing reforms of these sectors. Mutuals make a very significant contribution to the Northern Ireland economy, playing a crucial role in many sectors, for example, financial services and agriculture. I am, therefore, pleased to have introduced this Bill, which will give greater operational flexibility and help to ensure that they can continue to grow and thrive. <BR /> <BR />To ensure that this legislation is meaningful and effective, my Department has undertaken a period of thorough consultation with those who would be most affected by legislative change.”
“I can understand that Members have struggled as positions have changed and we have had to adapt to those positions. The urgency of today will, I think, be well understood out there in the business community, certainly the people I am speaking to, some of the major employers in Northern Ireland. <BR /> <BR />To conclude, this proposed rule will close the NIRO to new non-wind generation on 31 March 2017 and introduce closure grace periods. A further closure order will be brought forward to address the closure of the NIRO to onshore wind. That will also be subject to debate in the Assembly. I thank everyone who has contributed to today's debate. I commend the motion to the House.”
“That is why I think, Mr McCrea, we have to deal with what we are dealing with today. It is why I say to you that the order for non-wind technologies results in costs being socialised across the United Kingdom, which, therefore, means that there is no additional burden to Northern Ireland. That is why I have spent hours trying to ensure that we have got a way forward for Northern Ireland that does not lead to additional costs. <BR /> <BR />The renewable obligation level is a good deal for Northern Ireland. It is estimated to be in the region of 50% of the GB level. Let me repeat this again: it will not mean additional costs to Northern Ireland. That is why I have worked through, intensely, line by line, the sometimes changing position that has come from DECC.”
“Again, in terms of adding costs to people in fuel poverty, I put on record that the order for non-wind technologies results in costs being socialised. The renewable obligation levels —”
“I wish to make progress. <BR /> <BR />We have to be careful when talking about cost. My information is that the vast majority of Northern Ireland consumers have electricity bills that are around the European Union average, following falls in tariffs that were announced in April. Recent industry reports show that energy prices are at their lowest level for six years and that Northern Ireland gas bills are below the European Union average. I accept that a small number of very large consumers have electricity bills that are above that average but I also understand that, currently, they are lower than those in the rest of the United Kingdom as a whole.”
“That is because it could be disproportionately expensive to try to run a Northern Ireland-only scheme. <BR /> <BR />The issue of electricity prices was raised in the debate, and I am acutely conscious of it. The regulator and my Department have a responsibility to protect the interests of all consumers. We have tried to do so by promoting competition, supporting innovation and contributing to investment. I know that the cost of electricity, particularly to business, is as close to many Members' hearts and those of businesses in their constituencies as it is to mine and to those who raise such issues with me in Strangford.”
“Thank you, Mr Speaker. My response to a point raised by Mr Ó Muilleoir is that the existing support for renewable generation will continue post-2017 until 2037. It is anticipated that that will increase renewable electricity deployment in Northern Ireland to somewhere in the region of 30%. I think that that is a considerable achievement for a region of this size. <BR /> <BR />A decision on whether Northern Ireland should become part of the UK-wide contract for difference is a matter for the Executive. My predecessor consulted on this in March 2015, highlighting the key balance to be struck between further support for new development and the cost to consumers. Given the Conservative manifesto commitment to stop any future subsidies for onshore wind, it is sensible to take account of the UK Government's expected announcements in the autumn.”
“It is me acting in the best interests of everyone in Northern Ireland. <BR /> <BR />In relation to Mr Ó Muilleoir's comments about posts, most reasonable people will understand that the murder of Kevin McGuigan was not something that we could just ignore and continue to do business as usual. We said at the time that it was not the case that we would not do business at all but that we could not do business as usual, given the seriousness, which has not been mentioned yet by those who would like to make their points, of the murder of Kevin McGuigan on our streets and the PSNI response to that. Everyone in the House should have taken that seriously and should have mentioned it, had they wanted to open that debate. <BR /> <BR />In further response to Mr Ó Muilleoir —”
“In August, in the absence of having that final policy position on onshore wind, I took the decision to close the NIRO in two stages. The rationale for that was to give clarity to non-wind developers, as we could not, then, set out a final policy on onshore wind. The proposed Renewables Obligation Closure Order (Northern Ireland) 2015 gives non-wind developers the legislative certainty that they require. A further NIRO closure, as I said, will be introduced to address onshore wind, and that will come to the Committee. <BR /> <BR />I will turn to the Member who spoke next, Máirtín Ó Muilleoir. Let me say clearly, which I did at the start, that the costs of non-wind will be fully socialised right across the United Kingdom. For me, that is a win for the domestic consumer and for business.”
“I will deal with a range of things. Bear with me: I want to make some progress. <BR /> <BR />I want to deal with costs to householders who are struggling, but I want to do that in a balanced way that leads not to jobs leaving Northern Ireland but to sustaining the jobs that are already here and puts us in a position to take new jobs in the future. <BR /> <BR />In the Member's contribution, he said that I was not working over the summer, but, to the best of my knowledge, I announced 700-plus new jobs. The Member should consult his ministerial colleague Mr Farry about some of the work that we did on the financial services industry and listen to the speech that he gave that day. That seems to be at variance with what the Member has attempted to suggest to the House.”
“I will come to you in a second, Mr McCrea. <BR /> <BR />I want to provide all developers with the certainty that they need. Unfortunately, as I said, the changes in the UK Government's policy position on the early closure of the renewables obligation in Great Britain to onshore wind created unavoidable delays due to the lengthy discussions that were held regarding the socialisation of costs. I want the least costs across the United Kingdom, both for —”
“For the purposes of clarity, Mr Allister's contribution was inadequate to the matter here today. I have spoken to people who run businesses and to domestic consumers. We have spent hours looking at the trilemma that we face in energy policy, and anybody who looks at the serious issues, as opposed to the immature grandstanding of Mr Allister, will realise how inadequate his intervention was. Let me return to the serious issues. I want to provide —”
“No, I think that I have heard enough from you, Mr Allister. Your contribution was spectacularly poor, and it failed to detail any of the real issues that affect jobs and investment in Northern Ireland. It was my intention to —”
“There is always more risk in taking different approaches, but you must make a judgement that is based on the balance of risks. If the decisions were entirely black and white and I could see the future, it would be simple, but that is not the reality. It was and has been raised —”
“The order achieves that balance for non-wind technologies. Today, I have signed off on proposals that will do the same for onshore wind. Those will be with the Committee today. <BR /> <BR />I want to respond to some of the issues that were raised. Mr McGlone raised issues of confusion, disorientation and a lack of leadership: I have no intention of getting into the SDLP's leadership debate. On this serious issue, the position on the non-wind closure has remained consistent throughout: closure in 2017, with a grace period to 2018 and the costs being socialised. Because of the cost implications, we have had to take account of the UK Government's changing policy regarding onshore wind. I wanted to give certainty to all developers, and I recognise — I had to recognise — that that would take longer for onshore wind.”
“This is a difficult subject. Energy faces something of a trilemma. My only interest and the only interest I will ever have is in trying to resolve in the best interests of everyone in Northern Ireland the trilemma that energy faces: how to deal with cost for domestic and commercial customers — we know how hard pressed many of our households are; I certainly do in Strangford; how we deal with sustainability; and how we deal with security of supply. Those are three of the most difficult and challenging issues that we have to face and try to get a resolution on that fits now and in the future. <BR /> <BR />It has been a lengthy process to get to this point. Throughout, it has been my aim to bring the NIRO to an orderly conclusion in a way that maximises renewable deployment in Northern Ireland at least cost to the consumer.”
“Some developers sought longer grace periods, but, as set out in my Department's response, which was published in August 2015, that was not feasible in the context of overall United Kingdom policy. <BR /> <BR />In conclusion, the proposed rule will close the Northern Ireland renewables obligation to new non-wind generation on 31 March 2017 and will also introduce defined closure grace periods.”
“The order will also introduce 12-month closure grace periods for non-wind projects that meet specified criteria. Those criteria will be that a project that was scheduled to connect by 31 March 2017 will have an extra year to connect if it suffered grid or radar delays through no fault of its own. There are particular arrangements for advanced conversion technology projects, which are, I understand, basically a form of energy from waste, to reflect their lengthy development timescales in Great Britain. Those arrangements reflect the position in the rest of the United Kingdom, and the costs will be socialised across all United Kingdom consumers. Policy on that issue has not changed since our consultation proposals of March 2015.”
“Since that time, discussions have been ongoing with the Department of Energy and Climate Change (DECC) regarding Northern Ireland's policy position on onshore wind. Due to those protracted negotiations with the Department of Energy and Climate Change and in the interests of providing legislative clarity to all non-wind technologies, I took the decision to take forward the legislation in two stages: first, non-wind, to be followed by onshore wind as soon as possible. A Government response specifically on non-wind closure grace periods was issued in August 2015. <BR /> <BR />Having covered what is not in the order, I will now turn to what it does cover. The proposed Renewables Obligation Closure Order (Northern Ireland) 2015 will close the NIRO to all non-wind technologies on 31 March 2017.”
“As part of UK-wide electricity market reform, the NIRO, along with the other two renewables obligations in Great Britain, is scheduled to close to new generation in March 2017. A consultation on NIRO closure in 2017 was undertaken in 2012. The majority of respondents at that time agreed that it would not be viable to keep the NIRO open after 2017 if the other two renewables obligations in Great Britain were to close. In March 2015, DETI issued a consultation on NIRO transition and closure grace periods. However, prior to the publication of a DETI response in June 2015, the new Secretary of State for Energy, Amber Rudd MP, announced the closure of the renewables obligations in Great Britain to onshore wind from 1 April 2016.”
“This statutory rule is being made under powers in the Energy (Northern Ireland) Order 2003, which prescribes that the order must be laid in draft form for approval by affirmative resolution of the Assembly. <BR /> <BR />Renewable electricity generation in Northern Ireland is incentivised through the Northern Ireland renewables obligation, or NIRO, as it has come to be known. Since its introduction in 2005, the NIRO has been instrumental in increasing renewable deployment in Northern Ireland from 3% renewable electricity consumption in 2005 to just over 20% now. That achieves the Executive's ambitious Programme for Government target of having a fifth of our electricity generated from renewables by 2015. I commend the efforts of the renewables industry and infrastructure providers in helping to achieve that target.”
“— new jobs. We asked it for an investment of £1 billion to our local economy, and £2·6 billion was achieved. That is a record that I am happy to stand over.”
“The UK has seen a boom in foreign direct investment since it lowered corporation tax from 2011, so the fact is that corporation tax is important for FDI. The Member seems to be ignoring all the evidence that shows that to be true. <BR /> <BR />For those who have said that it is all about jobs, that is what the people are interested in. I will outline the record: we asked Invest NI, in four of our Programme for Government targets, to promote 25,000 new jobs. It achieved over 37,000 —”
“The report suggests that energy costs continue to be an important issue for existing businesses and in terms of attracting new inward investment. There have been recent falls in energy prices that have benefited all customers. I would welcome further falls, but I note that the CBI's evidence to the Committee suggests that, for many companies, energy is not the biggest issue. <BR /> <BR />I will now turn to some of the issues that were raised. Mr Agnew seemed to want to promote welfare. I inform him that I do not want to promote welfare; I want to promote jobs so that people do not rely on welfare. Cutting corporation tax will promote investment and jobs and will provide employment. He should note that the Irish Government concluded that the number one factor in their success on foreign direct investment was their corporation tax rate.”
“It also gives Northern Ireland the opportunity to specifically target strategic business functions that are regional or global profit centres and additional high-technology functions. That will involve a new and additional area of work for Invest NI and other key stakeholders in developing sales propositions, targeting investors and putting in place appropriate support packages. <BR /> <BR />Infrastructure and accessibility are often identified as key factors in determining an investment location. Investment in communications infrastructure will remain a priority. External accessibility to markets and suppliers and ease of travel are all important drivers to increase investment across the whole of Northern Ireland. The Committee report identified energy as a key driver.”
“In 2014-15, we had the highest number of new-to-Northern Ireland projects ever — 25 — including the world's number one law firm. A lower rate of corporation tax will enable us to build on that and extend our position as the best performing region in the United Kingdom for job creation. <BR /> <BR />Firms have been attracted by skills availability, our competitive cost base, the ease of doing business and government and Invest Northern Ireland support, and it is essential that we continue to use those to our advantage. A reduced level of corporation tax would further strengthen our position and help to promote Northern Ireland as a good location for potential new investors and undoubtedly bring benefits to our business base.”