...with a lower corporation tax rate for Northern Ireland. That loud banging you can hear is the last nail being hammered into the coffin of the Republic's economy. Currently, the North has the same rate as the rest of the UK, i.e. 28%, versus the Republic's 12.5%. I think it's safe to assume that the Stormont administration will push for a rate as close to the Republic's as possible, and London will give it to them, as hopefully it will get private sector business in Northern Ireland moving and reduce the almighty strain the 6 counties place on the national purse.
So then, let's see, we will have two economies competing with one another, with comparable corporation tax rates, one with a minimum wage of £5.80 per hour , the other with a minimum wage of €8.65 per hour (£7.20). Plus, energy is cheaper in the North.
Hm, I wonder who will win?
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