A GROUP of journalists and businessmen have produced a ten-point plan highlighting the economic benefits of a united Ireland.
‘The Economic Impact of an All Island Economy’ argues that unification can bring about “serious benefits” to everyone on the island.
The report, which was written by financial journalist and economic commentator Paul Gosling, also involved Derry businessman Colm McKenna and Pat McArt, a formal editor of the Derry Journal.
The report makes the case for a single economy.
It includes proposals for a phased withdrawal of British subsidies to the north - which are estimated to amount to £10 billion a year.
“Sovereignty might also transfer on a gradual basis,” the report said.
It also suggests that a bridge or tunnel connection with Scotland “could provide reassurance to unionists that economic, social and political connections with Great Britain could actually be strengthened through new arrangements”.
Under the plan the European Union would be asked to assist in the reunification process and any new 32-county administration would be allowed to borrow cheaply for economic investment.
The document proposes a harmonised corporation tax which would make the island more attractive to foreign direct investment and suggests a special case could be made to the EU “for assistance with the cost and social pressures involved with Irish reunification”.
Despite the economic arguments the report also concludes that “if Irish reunification is to be achieved, it has to be achieved by consensus.”
