Corporation taxdevolution delaywill hurt Derry, says former Secretary of State

Former Secretary of State for Northern Ireland Owen Paterson has expressed frustration that Derry is continuing to suffer a competitive disadvantage against Letterkenny after it was indicated that the devolution of corporation tax won't proceed in 2018 as planned unless a competent power-sharing Executive is established.

The Tory MP lamented the fact that the limited decentralisation of taxation, which has been argued for by business and an umbrella of local political parties for years, is likely to be delayed unless a deal can be cut at Stormont.

Current Northern Ireland Office Minister Kris Hopkins indicated London will not proceed with the devolution of corporation tax unless there’s political consensus in Belfast.

“It is a devolved matter but, as we have said for some time, the Executive are required to demonstrate their competence on moneys,” said Mr. Hopkins at Westminster on Monday.

“There is a fundamental bit missing, because we need an Executive in order to demonstrate that in the first place.