Corporation tax not the answer - DTC

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The secretary of Derry Trades Council has said reducing corporation tax will not solve all Derry’s economic problems.

Liam Gallagher said; “Much has been made of the corporation tax differential but the fact is that this would not have been the major reason for not locating here.

“The deciding factor revolved around the company having an existing base in Tralee, the skills availability match and a better infrastructure.

“Our Assembly members need to think long and hard about the reduction of corporation tax as a panacea for all our ills. It is now acknowledged that growth in any European country will stagnate or even dip for the foreseeable future and it is foolhardy to even think about reducing corporation tax.”