The hon. Gentleman makes a very good point and I would make two points in response. When the Select Committee looked at the issue—it was the first issue we looked at under my chairmanship back in 2010—it was not unanimous in its support for
devolving responsibilities for corporation tax, but all the parties in general were in favour of it. Corporation tax was one of the few issues that every party in Northern Ireland agreed with the policy on, which was a real positive.
The hon. Gentleman is absolutely right, I am afraid. We could have done something about it then. The corporation tax rate for Northern Ireland could have been changed in 2010, or long before that, had it not been for our membership of the EU. I am not sure how far Mr Deputy Speaker will allow me to pursue that argument, but even if we wanted to reduce VAT on tourism in Northern Ireland, it would not be legal under EU rules. There are a number of ways of looking at membership of the EU. We spent two and a half hours on it earlier, and I do not suppose we will be allowed to spend too much longer on it now, but the point the hon. Gentleman makes is absolutely right.