Northern Ireland Economy

I agree with the hon. Gentleman, who makes the point better than I did. The outcome is important. It is significant that the hon. Member for East Antrim led me to Europe. When we received an application from Ireland for assistance last year, against all the pressure from Europe to increase its rate of corporation tax, Ireland resisted. No matter what else they had to do, the Irish Government knew that that was a crucial part of their economy. It was absolutely crucial in attracting foreign investment, and they clung, and are still clinging, to it. I wish them every success in doing so. I said that the Irish Government agreed. Almost all the witnesses from whom we drew evidence also agreed. There were an awful lot of them, over a long period: the CBI, the Federation of Small Businesses, KPMG, PricewaterhouseCoopers and many others. They saw the proposal as an important step but they all stressed that there was not a silver bullet—there is not just one solution to transform the entire economy in Northern Ireland. Everyone said that. No one was pretending that corporation tax in itself is the complete answer, but they all saw it as a golden opportunity and felt that we had to go that way. Because of the Azores ruling, we cannot change things here. Our Committee's recommendation is for the Assembly to be given the authority to set its own rate of corporation tax. If it is given that authority, and if the Treasury comes up with the deal, the figures and everything else, it will be up to the Assembly to decide what it wants to do. The issue will be out of our hands here at Westminster. That is the proposal, which I fully support. I have concentrated on the Northern Ireland economy. Many things happening across the UK will affect the economy there, for example creating growth, reducing the budget deficit and reforming benefits, but I have not touched on them, because I have tried to concentrate just on Northern Ireland. It is important to recognise that Northern Ireland has come a long way, thanks to the politicians in Northern Ireland and some of the leading politicians in the UK generally. Particularly, however, it is due to the resolve, determination, steadfastness and decency of all the people of Northern Ireland. The current generation and the next deserve to live in a more prosperous and peaceful society than did the previous two generations. That is what this debate is about, what the work of the Northern Ireland Affairs Committee is about, and what the proposals that I have made today are about.