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Northern Ireland corporation tax reduction 'could create 58,000 jobs'

Published: Friday, 27 May 2011   Category: All Graduate job news

The reduced corporation tax in Northern Ireland will help create up to 4,500 jobs - a number which is likely to include many graduate roles - per year.

According to the Economic Advisory Group - an independent body which provides advice economic policy - around 58,000 jobs will be created by the new deregulation by 2030.

The corporation tax will be reduced to 12.5 per cent starting at the beginning of next year, with most of the increased jobs coming through increased foreign investment.

Kate Barker, the chair of the think-tank, commented on the findings.

"It is the view of the [Economic Advisory Group] that with this measure, Northern Ireland should be expected to achieve significant convergence toward living standards experienced elsewhere in the UK," she said.

"Furthermore, with a lower rate of corporation tax, the economy should achieve the necessary rebalancing toward greater private sector activity, with increased productivity levels and export-led growth."

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