CORPORATION tax powers are to be devolved to Northern Ireland has been published and before May’s Westminster general election. The tax is levied on the profits made by companies and businesses in Northern Ireland at 21 per cent, which compares unfavourably with the 12.5 per cent rate in the Republic of Ireland.

The Silk Commission recommended that corporation tax should be devolved to Wales in the event of it being devolved to other parts of the UK. All the political parties in Wales agreed to this principle and Plaid Cymru has long argued the case for this important lever to be made available to the Welsh Government.

The party formally known as New Labour has said that it won’t oppose the passage of the bill. Wales needs the tools to build a fair and sustainable economy and it is important that power is fairly balanced across the UK, with Wales having parity with the other constituent parts.

Jonathan T Clark Plaid Cymru Parliamentary Candidate for Monmouth Constituency