Northern Ireland set for greater tax powers

NORTHERN IRELAND is set to receive greater control over its finances with the devolution of tax-raising power to Stormont.

Legislation allowing corporation tax powers is to be published by the Treasury, with the government aiming to pass the law before the general election on 7 May.

The chancellor, having allowed several tax-raising powers to be devolved to Scotland, said in December’s Autumn Statement that the government was ready to do the same for Ulster.

The power was a key demand of political leaders ahead of the Stormont House Agreement, which was finalised in Belfast in December after 12 weeks of inter-party talks.

Northern Ireland secretary Theresa Villiers made the announcement in a speech to business leaders on Thursday, with details to be presented “shortly”.

Shadow secretary of state Ivan Lewis said Labour was concerned at what he described as the government’s “rush” to introduce the new legislation.

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