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New investment in research and development and changes to the corporation tax regime is designed to help business and boost productivity and innovation over the long term. The government remains committed to the devolution of corporation tax to the Executive so long as it demonstrates that its finances are on a sustainable footing.

In early 2017, we will begin the roll out of tax-free childcare across Britain, providing a saving of up to £2,000 per child.

I therefore call upon all our stakeholders, particularly SMEs, to engage in the consultation over the next 6 weeks to help us to refine our policy to not only deliver the best equipment for defence at the best value for the tax payer, but to support an innovative, prosperous and internationally competitive defence industry.

Families and ordinary working people will welcome the rise in the National Living Wage and changes to Universal Credit to ensure people keep more of what they earn. Together with a further freeze in fuel duty saving motorists on average £10 every time they fill up their car, today’s measures will provide greater financial security and help Northern Ireland prosper and grow.

At the event at the Chelsea Harbour Hotel in London, details were provided on the Future Aviation Security Solutions (FASS) competition.