The British government has unveiled proposals to overhaul corporation tax in Northern Ireland.
At present, the rate is twice that in the Republic and businesses say cutting it could dramatically increase the level of inward investment.
The five main party leaders at Stormont, and Northern Secretary Owen Paterson, attended the launch of a consultation document which could see corporation tax in Northern Ireland substantially reduced.
As was the case in the Republic, this could bring about a major increase in foreign inward invest, although it may also lead to a cut in the block grant the Stormont executive receives from the British exchequer.
The consultation period will last until the end of June, although even if they are agreed by Stormont and the British government, it could be several years before the reduced tax rates are introduced.
In his budget speech yesterday, British Chancellor George Osborne told the House of Commons the document considers the case for Northern Ireland having a lower rate of corporation tax than the rest of the UK.
