Special funding and other measures, including taxation measures, were announced by the Chancellor of the Exchequer on 22 March 2007.

Among the tax proposals, which were contingent on the restoration of devolved government in the North, are:

• following representations from all the political parties on differential tax rates, the announcement of an review-led by Sir David Varney, who was formerly the Chairman of HMRC-to report on how current and future tax policy, and including the tax changes announced in the Budget, can support sustainable growth of businesses and long-term investment in Northern Ireland. Sir David will report in the autumn;
• a new Northern Ireland corporate tax office to promote the competitive tax position which Northern Ireland enjoys, working closely with Invest Northern Ireland to promote indigenous and inward investment;