David Jetuah, Accountancy Age, Tuesday 15 June 2010 at 08:36:00

Dublin-based media mogul Gavin O'Reilly said such a move would see Northern Ireland enjoying the same prosperity as their Republic of Ireland neighbours

Slashing Northern Ireland?s corporation tax to 12.5% could revive the foundering economy according to Gavin O?Reilly, chief executive of Independent News & Media.

The Dublin- based media mogul said such a move would bring Northern Ireland into line with the Republic of Ireland, which is a popular destination for multinational companies.

O?Reilly said: "Don?t be fooled by anyone who tells you that the 12.5% rate was not really all that important for the Republic?s success.

"It was the indispensable ace in the pack," the Belfast Telegraph reported.