6 county corporation tax

[OakleafCounty]

I think it will be a disaster. The public sector has been shrinking since 2007 and that shrinkage is picking up pace now and if this is devolved too many people will lose their jobs within a short space of time.

[thebigfella]

are not as renowned as other mainland UK universities.

What part of mainland Europe are your referring to?

The mainland which subsidies the 6 counties 

[balladmaker]

The mainland which subsidies the 6 counties

Ok, and not the part that has subsidized the 26 recently.

[Tubberman]

The mainland which subsidies the 6 counties

Ok, and not the part that has subsidized the 26 recently.

No, there was no subsidy. There was a loan. Loans are repaid.

[thebigfella]

The mainland which subsidies the 6 counties

Ok, and not the part that has subsidized the 26 recently.

No, there was no subsidy. There was a loan. Loans are repaid.

[armaghniac]

No, there was no subsidy. There was a loan. Loans are repaid.

Unless you are Sean Quinn, Sean Dunne etc, in which case you do not repay your loans.

[lynchbhoy]

Ireland pumped a fortune into it HE colleges and Universities all through the 90's and 00's. The opposite is happening in North.
I Think they don't seem to get that part.

+1

Queens would only be slightly behind Trinity in the University rankings and probably above any other Irish university. It's also part of the Russell group which makes it a top 20 post graduate university in the UK. Northern Ireland consistently has the best exam results at GCSE/A-Level in the UK, i think it's unfair to say our colleges are far behind the South.

Ah the old best GCSE and A-Levels argument trotted out.
The problem isnt the top 10%, its the rest.
Its the fact that Ireland has TCD, UCD, DIT, DCU, NUI, RCI, UL, CIT, SIT LKIT and more i've missed.
N.Ireland Has Queen's and the University of Belfast aka UU.

If N.I produces 50 computer science graduates a year, that isn't gonna make a dent in the number of IT companies looking to open here.

No Point pumping out History graduates and saying there are no jobs for them.

yep there are/were IT jobs in the north and there wasn't enough qualified people to take them.

my missus worked for a company that opened up a Belfast office.
was always trying to recruit IT staff at all levels. couldn't get them.
had to import many from EU, india etc

a lot of the investNI based start up industries were heavily heavily subsidised

a lot of the graduates will head south as the money is way better!

this corporation tax project will be interesting though!

[Stall the Bailer]

Another problem is, these IT jobs are being located in Belfast. Look at another topic on here about the M2.
If you are from the NorthWest and don't want to spend 3-4 hours a day in a car you will hardly apply for a job in Belfast.

It would be interesting if Omagh/Derry/Cookstown/Magherafelt could get some of smaller IT business to set up there.

[muppet]

The mainland which subsidies the 6 counties

Ok, and not the part that has subsidized the 26 recently.

No, there was no subsidy. There was a loan. Loans are repaid.

At a very high rate.

We are now asked them to pay them off early with re-financed lower rate loans.

At least we pay them off. The US owes €17 trillion and will never pay a cent.

[TabClear]

It not work, one, the politicans up here are incapable of running anything, we seen this at first hand, if they Had to work in a proper job half them be out the door,

Two, why would any company decide to move to the north or new company locate here, when they have the same tax down south minus the shit what happens in Belfast and Belfast who probably be the only place new companies would set up.

Any outside company would still choose down south first, the outside world do see the 12th carry on on TV every year

Dont agree with this at all. If that held true, why would any company set up in NI at the minute??

Dont underestimate the attraction of trading in Sterling to a lot of US/Far East companies, both from a prestige perspective and a forex viewpoint. Depending on exchange rate movement/group structures etc could be a real consideration. If your key customer base is UK, why not report in the same currency if it is not to your detriment? Your primary bank is uk based?

Also, company law is different between UK/Ireland?

Corporate banking doesn't work like that and I'm assuming it's big corporations they are hoping to attract.

Bigfella, in what sense does corporate banking not work like that? In terms of considering forex as a factor that impacts on your business or the location of your primary banking relationship being relevant? I'm clearly not saying thatany of these factors in their own will be a deciding factor, but they will all be considered.

[seafoid]

Massive spending cuts on the way for NI

http://www.theguardian.com/politics/2014/dec/04/george-osborne-spending-cuts-change-state-beyond-recognition-ifs

[armaghniac]

Massive spending cuts on the way for NI

http://www.theguardian.com/politics/2014/dec/04/george-osborne-spending-cuts-change-state-beyond-recognition-ifs

Actually the cuts will be bigger than these, this is England, NI spends more than England and will be brought into line.

[Armamike]

Ireland pumped a fortune into it HE colleges and Universities all through the 90's and 00's. The opposite is happening in North.
I Think they don't seem to get that part.

+1

Queens would only be slightly behind Trinity in the University rankings and probably above any other Irish university. It's also part of the Russell group which makes it a top 20 post graduate university in the UK. Northern Ireland consistently has the best exam results at GCSE/A-Level in the UK, i think it's unfair to say our colleges are far behind the South.

The good old Russell group. There's about 40 universities claiming to be in that top 20!

Somebody earlier in the thread made  a good point about the skills. The south had a twin approach - lower corporation tax and skills development. The north will struggle to produce the graduates needed to attract investors -just not enough scale compared to the south.

[Throw ball]

I've a couple of points I picked up from a presentation this morning by Neil Gibson from Oxford Economics/UU.
1. The legislation is drafted and ready to go
2. If the decision was based on the impact to the UK treasury alone, it wouldn't be contemplated
3. The legislation would only impact corporation tax - any revenues from income taxes, VAT and other indirect taxes as a result of the devolution of corp tax would still flow to the UK purse
4. Compromises are required from public sector, but cuts in public sector are coming whether there is corp tax devolution or not 
5. Possible requirement from the business community to surrender something - R&D reliefs, INI grants, low business rates, low wages
6. The ultimate decision at this point, however, will likely lie in whether the Conservatives need the support of Unionists to remain in coalition

Very important points there. The cut in corporation tax is not an all rosy thing.

[johnneycool]

Ireland pumped a fortune into it HE colleges and Universities all through the 90's and 00's. The opposite is happening in North.
I Think they don't seem to get that part.

+1

Queens would only be slightly behind Trinity in the University rankings and probably above any other Irish university. It's also part of the Russell group which makes it a top 20 post graduate university in the UK. Northern Ireland consistently has the best exam results at GCSE/A-Level in the UK, i think it's unfair to say our colleges are far behind the South.

Ah the old best GCSE and A-Levels argument trotted out.
The problem isnt the top 10%, its the rest.
Its the fact that Ireland has TCD, UCD, DIT, DCU, NUI, RCI, UL, CIT, SIT LKIT and more i've missed.
N.Ireland Has Queen's and the University of Belfast aka UU.

If N.I produces 50 computer science graduates a year, that isn't gonna make a dent in the number of IT companies looking to open here.

No Point pumping out History graduates and saying there are no jobs for them.

yep there are/were IT jobs in the north and there wasn't enough qualified people to take them.

my missus worked for a company that opened up a Belfast office.
was always trying to recruit IT staff at all levels. couldn't get them.
had to import many from EU, india etc

a lot of the investNI based start up industries were heavily heavily subsidised

a lot of the graduates will head south as the money is way better!

this corporation tax project will be interesting though!

Very true, but conversely some Multi-Nationals like the idea of the north because of the lower pay scales compared to both Dublin and the rest of the UK.

The problem being is that we're churning out teachers and Business studies graduates by the bucket load with no work for either.