Budget failed to consider the "unique opportunity" of Windsor Framework

The Budget delivered by British Chancellor of the Exchequer, Jeremy Hunt has failed to consider the "unique opportunity" created by the Windsor Framework, according to Londonderry Chamber President Selina Horshi.

Ms Horshi said: "The Chancellor’s Budget delivered today fails to consider the unique opportunity the Windsor Framework has created to attract investment to Derry. The confirmed rise in Corporation Tax will greatly hinder Foreign Direct Investment attraction to Derry and Strabane.

"When potential investors look towards the North West, they will get a choice of 12.5% Corporation Tax and the now confirmed 25% here. The lack of consideration to how this planned rise in Corporation Tax will create an uneven playing field here is unsurprising.”

 “That said, we welcome the announcement of £40 million to enhance Higher and Further Education in Northern Ireland and hope that this goes towards further development and funding for third-level institutions in the North West. The only way we can tackle the skills shortage our members continue to report is through meaningful investment in education in the North West.”

"Overall, the measures announced today do not negate the necessity for the swift return of the Executive and Assembly. There is no substitute for local decision making and fully functioning power sharing in Northern Ireland. We welcomed the recent Windsor Framework and commended the efforts of the EU and UK to reach an agreement. We remain optimistic that this deal will pave the way for the return of government in Northern Ireland so our MLAs can deliver for communities, households, and businesses once again.”