More money for an absent Executive, no tourism tax cuts and a nod to both Brexit and corporation tax concerns mean Northern Ireland business and industry leaders were left with more questions than answers from the latest UK budget. The Northern Ireland Chamber of Commerce and Industry gave the budget a “guarded welcome” but warned that the lack of a local government threatened to overshadow any potential gains from it. Infrastructure spendingThe Construction Employers Federation said any increases to Northern Ireland’s budgets were “hugely welcome” because they would in turn deliver a boost to infrastructure spending, which would benefit the construction sector in the North. Chartered Accountants Ireland’s Northern Ireland tax committee chairman, Paddy Harty, said the budget provided little wow factor for businesses in the North, despite increases in personal allowances and additional research and development funding. He said micro-businesses would welcome the VAT threshold remaining at £85,000 although they would be impacted by a planned increase in the UK minimum wage.

Source: The Irish Times November 22, 2017 21:11 UTC