Politicians have lacked the courage to seize an opportunity for Northern Ireland
On October 7th Ireland finally buckled, agreeing to raise its corporate-tax rate for large companies to 15%, a proposed global baseline, as part of a broader attempt to crack down on corporate tax avoidance. It was not only a big policy shift for the Republic, but a reminder, if one were needed, of the weakness of the devolved administration in Northern Ireland, and its politicians’ inability to seize opportunities and make trade-offs.
Under European Union state-aid law, such a policy was permissible only if Northern Ireland bore the cost, estimated at the time as around £275m a year, or 0.6% of its. The British Treasury imposed another condition: that the devolved administration got its finances in order. But in 2016 the “cash for ash” scandal came to light. A scheme intended to boost renewable energy was so badly designed that people who burned wood pellets received subsidies higher than the cost of the fuel.
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