SMEs fear NI cut in corporation tax rate

Two-fifths of Irish SMEs are concerned that a mooted reduction in the Northern Irish rate of corporation tax would have a negative impact on the economy south of the border.

Legislation introduced in Westminster in January to devolve control of the rate to Stormont is expected to pass before the UK general election next month.

Up to 34,000 Northern Irish businesses are set to benefit from the proposed reduction which is likely to come into effect in 2017.