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Government to create economic aid package for Northern Ireland Government to create economic aid package for Northern Ireland
(12 days later)
The government is to create a new economic aid package for Northern Ireland in addition to the billions the Treasury already pours annually into the province, Secretary of State Theresa Villiers will announce later on Monday.The government is to create a new economic aid package for Northern Ireland in addition to the billions the Treasury already pours annually into the province, Secretary of State Theresa Villiers will announce later on Monday.
To mark the 15th anniversary of the Good Friday Agreement, the Northern Ireland secretary says the programme will be "substantial," adding that the government will also consider the creation of "special enterprize zones" in the region to attract major investment.To mark the 15th anniversary of the Good Friday Agreement, the Northern Ireland secretary says the programme will be "substantial," adding that the government will also consider the creation of "special enterprize zones" in the region to attract major investment.
But she warns that recent sectarian street disorder, such as the trouble linked to Ulster loyalist protests against restricting the flying of the union flag at Belfast city hall, were hampering attempts to sell Northern Ireland around the world as a place to do business in.But she warns that recent sectarian street disorder, such as the trouble linked to Ulster loyalist protests against restricting the flying of the union flag at Belfast city hall, were hampering attempts to sell Northern Ireland around the world as a place to do business in.
In her speech at the MAC arts centre in Belfast's Cathedral Quarter, Villiers says: "Whenever sectarian tensions spill over into street violence that's distressing and disruptive for those living in the areas affected which are often the most economically disadvantaged in Northern Ireland.In her speech at the MAC arts centre in Belfast's Cathedral Quarter, Villiers says: "Whenever sectarian tensions spill over into street violence that's distressing and disruptive for those living in the areas affected which are often the most economically disadvantaged in Northern Ireland.
"And this kind of lawlessness also sends a negative message round the world that does real damage to Northern Ireland's reputation and its ability to compete.""And this kind of lawlessness also sends a negative message round the world that does real damage to Northern Ireland's reputation and its ability to compete."
Her speech in the presence of Irish Deputy Prime Minister, Tanaiste Eamon Gilmore, does not include any reference to lowering the corporation tax to the same level as the Republic's 12.5% rate, which has been crucial in attracting multinational investment south of the border.Her speech in the presence of Irish Deputy Prime Minister, Tanaiste Eamon Gilmore, does not include any reference to lowering the corporation tax to the same level as the Republic's 12.5% rate, which has been crucial in attracting multinational investment south of the border.
Local politicians have been lobbying 10 Downing Street and the Treasury to grant Northern Ireland special corporation tax status so they can compete with the Republic in wooing major global companies to the province. Some within government in London fear that if the Treasury agreed to lowering the corporation tax rate in Northern Ireland this would fuel demands from Scotland for a similar rate and could be used by the SNP as a campaigning weapon in the upcoming independence reference.Local politicians have been lobbying 10 Downing Street and the Treasury to grant Northern Ireland special corporation tax status so they can compete with the Republic in wooing major global companies to the province. Some within government in London fear that if the Treasury agreed to lowering the corporation tax rate in Northern Ireland this would fuel demands from Scotland for a similar rate and could be used by the SNP as a campaigning weapon in the upcoming independence reference.
Villiers says David Cameron is committed to helping Northern Ireland re-balance its economy from public to private sector, and attracting foreign direct investment.Villiers says David Cameron is committed to helping Northern Ireland re-balance its economy from public to private sector, and attracting foreign direct investment.
"One of the reasons he decided the G8 leaders to Fermanagh was because he wanted to show off to the world what a great place Northern Ireland is and how much it has to offer.""One of the reasons he decided the G8 leaders to Fermanagh was because he wanted to show off to the world what a great place Northern Ireland is and how much it has to offer."
The GB world economic and political summit will be held at the luxury Lough Erne hotel in the Fermanagh lakelands in June.The GB world economic and political summit will be held at the luxury Lough Erne hotel in the Fermanagh lakelands in June.
On the political front, while praising the local architects of the Good Friday peace deal back in Easter 1998, Villiers expresses concern about the age of some of those taking part in riots and sectarian violence over the last few months.On the political front, while praising the local architects of the Good Friday peace deal back in Easter 1998, Villiers expresses concern about the age of some of those taking part in riots and sectarian violence over the last few months.
"It is depressing that some of those involved in disorder and sectarianism weren't even born when the first ceasefires occurred and the peace process started in earnest."It is depressing that some of those involved in disorder and sectarianism weren't even born when the first ceasefires occurred and the peace process started in earnest.
"That confirms beyond doubt that the passing of time won't be sufficient on its own to bridge long-standing sectarian divides," she says."That confirms beyond doubt that the passing of time won't be sufficient on its own to bridge long-standing sectarian divides," she says.
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