Republic economy ‘example for North’

INVESTMENT in the North could be increased by a factor of twenty if it pursued policies similar to those in the Republic, a new report says.

The North’s economy will continue to struggle as long as its corporation tax stays at 30%, compared with the very attractive 12.5% available in the Republic.

“As a comparison, were the North able to achieve the same success as the Republic (relative to the size of the economy), net investment in the region would have amounted to $6.5 billion (€5.4bn) in 2003, some 20 times more than it actually received ($320 million (€264m)”, said Dermot O’Leary, chief economist with Goodbody Stockbrokers, authors of the document.