Swann sets out key Budget priorities
Ahead of Chancellor John Healey MP delivering his first Budget this Wednesday, Robin Swann has outlined his key priorities to support local businesses, farming families and public services.
With significant economic pressures facing key sectors across Northern Ireland, Mr Swann is calling on the Treasury to deliver targeted measures, including reform on hospitality VAT, Air Passenger Duty and agricultural tax.
Speaking ahead of the Budget statement, the Ulster Unionist MP said: “This Budget comes at a critical time for families and businesses across Northern Ireland. The Treasury has an opportunity this week to deliver practical support that will protect jobs, boost growth and deliver fairness for Northern Ireland.
“A reduction in hospitality VAT, as recommended by our Northern Ireland Affairs Committee report, would provide a huge boost for local venues under severe pressure. Cutting this rate will help safeguard businesses, protect local employment and strengthen our wider economy.
“We also need to see the scrapping of Air Passenger Duty for Northern Ireland. Removing APD will establish a level playing field on the island of Ireland, encouraging airlines to station more aircraft here, driving growth and ultimately delivering a greater return to the Treasury.”
Mr Swann also highlighted the impact of uncertainty surrounding farm inheritance tax, adding: “Our farming community needs urgent assurances and certainty regarding farm inheritance tax. Recent research by the Ulster Farmers’ Union found that nearly nine in ten farmers responding said these inheritance tax changes have increased stress or worry within their families. It is clear that there has been unnecessary emotional and financial strain put on local family farms and the Treasury needs to offer clear reassurance.”
On the ongoing budget deadlock at Stormont, Mr Swann said: “With the Northern Ireland Executive still operating without an agreed budget, I hope that any major spending announcements from the Government will deliver notable Barnett consequentials for Northern Ireland to help address the current shortfall.
“Westminster funding alone, however, is not a substitute for local accountability, and this a point the Prime Minister made when I questioned him on the issue last week. It is vital that Stormont agrees its own budget as soon as possible, allowing the Executive to get on with its proper job of delivering high-quality public services for everyone in Northern Ireland.”