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Economic experts have claimed that a reduction in corporation tax could generate as many as 90,000 full or part time jobs in Northern Ireland.

Over the next twenty years, a cut in Corporation Tax could be worth as much as £1 billion and would be a very powerful engine for job creation in Northern Ireland. That is, at least, according to leading experts in the economic field from firms such as KPMG who were addressing the Northern Ireland affairs committee inquiry this week.

It was predicted that reducing Corporation Tax from the present 28 per cent level to 12.5 per cent would attract a lot more interest from foreign investors which would in turn have a significant effect on full and part time jobs in Northern Ireland.

In a statement, the experts said: “The potential benefits are large. Analysis suggests that employment in Northern Ireland could increase by 90,000 jobs over 20 years. Since the majority of these jobs can be expected to be in high value-added firms, there would be a substantial impact on average productivity and wages.”

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