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As part of the United Kingdom the Prime Minister is currently in Northern Ireland in an attempt to resolve the very complex issue of reducing Corporation Taxation for Northern Ireland. The problem is that if Corporation Taxation is reduced to the proposed rate it will benefit the profit driven private sector and reduce the block grant. Public sector recovery struggling to keep up with its private sector counterpart.
The block grant is apportioned for roads, education and so on. There is indeed a strong argument for reducing Corporation taxation in this unique part of the United Kngdom but the proposed counterbalancing cuts will offset any potential gains for the population as a whole. Northern Ireland is not yet ready to have full control of taxation. Firms on the mainland must innovate or evaporate; this means tapping into the very lucrative economic border corridors which have significant income opportunities here. Potential tourism opportunities and inward investment are not being realsed to ter full potental. Firms on the mainland should take full advantage of this reduction in taxation by relocating to Northern Ireland.
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