The Economy — House of Commons, 2015-06-04
Topic: Macroeconomics
Ian Richard Kyle Paisley (Democratic Unionist Party, Right): I should like to start by congratulating you on your successful election yesterday to the post of Chairman of Ways and Means, Mr Deputy Speaker In the debates on the Queen’s Speech, I have heard "oneness" and "togetherness" mentioned on a number of occasions. That is music to my ears as a Unionist. I feel very much a part of this nation and I want to ensure that its economy grows with a spirit of togetherness. Binding us more closely into the Union will bring us closer together, allowing us to share our strengths and ensuring that our weaknesses are not made greater. Those concepts of oneness and togetherness are therefore welcome and heartening; they give us a sense of belief in the potential of what this new Government are offering us I am a proud to be a Member of Parliament from Northern Ireland, and from North Antrim, and as such I am bound to ask what the Queen’s Speech will specifically mean to my constituents, my people and my community. In the last Parliament, I welcomed the fact that the Government put their neck on the line and pursued a change in corporation tax specifically for Northern Ireland. They gave us the power to reduce our corporation tax rate, and I hope that the Assembly will use that power wisely and allow us seriously to compete with the nation with which we share a land border—the Irish Republic—whose corporation tax rate stands at 12.5%. I hope that the Assembly will take up that challenge and make that change, and I welcome the fact that Westminster gave us that power There are other things that this Government could do to enable Northern Ireland to increase its economic competitiveness and to be a stronger part of this nation. The tourism sector provides an example. I have the joy of having the Giants Causeway in my constituency. It is one of the finest natural locations for people to visit; indeed, it is the single largest visitor attraction on the entire island of Ireland. I welcome many people there each year; I just wish that they were all my voters. That attraction creates and stimulates employment and opportunity. Attracting more tourists to Northern Ireland is therefore part of the business plan for our country We currently have 60,000 people directly employed in the tourism sector, and a £1 billion a year spend in a country with a population of 1.7 million. That comprises £600 million being brought in by visitors to Northern Ireland and spent there, plus £400 million going out with people leaving Northern Ireland for tourism purposes. The Government could help by reducing VAT in the tourism sector, and I hope that they will look at my proposal, possibly even before 8 July. I would welcome that change, which would help small businesses in the sector I would also like to see air passenger duty removed altogether from domestic flights. The Government kindly reduced it for long-haul flights, which helps the airport in South Antrim, the constituency next door to mine, but I would like to see it removed from local flights. If you are really serious about togetherness, do not tax us when we fly to our nation’s capital The Government have done well in appointing a Minister for the northern powerhouse. Speaking as someone who represents the real northern powerhouse in our country—Northern Ireland—I hope that that Minister’s remit will be extended to allow him to look at the economic opportunities that flow from Ulster. Indeed, he could link in with Invest Northern Ireland and with our tourism, enterprise and trade to create great connectivity between the economic powerhouse being built in the north of England and the economic power base that could exist in Northern Ireland. That was certainly one of our priorities in the election campaign, and I look forward to that link being created The largest economic sector in Northern Ireland is agri-foods, and I hope that the Government will take a serious look at the opportunities created by our exporting our finest product—namely, food produce. One possibility could involve agricultural licences for the export trade with Asia, the far east and the middle east. Restrictions on exports are incredibly high at the moment, and I hope that our Government will make a serious effort to say to China and the middle east in particular, "Here is an opportunity for us to increase our trade and expand our agri-foods industry in Northern Ireland." I hope that the Government will consider that opportunity In the weeks ahead, Northern Ireland will face a political crisis relating to welfare reform. I hope that the Government recognise that they have a serious responsibility to hold firmly to the line that the Prime Minister expressed yesterday when he said that we want to see the full implementation of the agreement that was struck in Belfast in the latter part of last year. Only by having economic sense and recognising that we cannot spend beyond our means will we be able to take Northern Ireland out of the way of the economic harm that those opposing welfare reform in our country wish on our land.