Finance Minister Holds Consultation Event at NICVA on Devolving Fiscal Powers
Minister Murphy and his officials outlined the background to the current consultation and took questions and contributions from sector representatives at the event. The consultation is seeking views on recommendations for devolving tax raising powers in Northern Ireland made by the independent Fiscal Commission for Northern Ireland (FCNI), which was established in March 2021 and published its first final report in May this year.
The FCNI's report highlighted that whilst the Northern Ireland government currently controls most of the spending on public services here – almost £9 in every £10 of ‘identifiable’ public spending - it is only responsible for less than £1 in every £20 of revenue raised locally.
This is in contrast to the Scottish and Welsh Governments which have more local tax powers. Its report includes recommendations to devolve or consider devolving corporation tax, elements of income tax, the apprenticeship levy, stamp duty land tax (SDLT), air passenger duty (APD) and landfill tax.
The consultation runs until the 29 November. Responses can be sent via an online form at: Consultation on devolution of more fiscal powers | Department of Finance (finance-ni.gov.uk
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