Brian Cowen (Laois-Offaly, Fianna Fail)

With yesterday's budget the question of the economic and trade relationship between this country and Britain, which is an important one for both countries, is something I am sure will emerge in the discussions. There is a specific commitment in the programme for government agreed between the Conservatives and the Liberal Democrats in the aftermath of the British general election to examine the question of corporation tax rates in Northern Ireland. That is an issue the British Government will consider and I will endeavour to glean from the Prime Minister what the approach will be on the matter.

Given the economic relationship and the impact of the UK budgetary decisions on Northern Ireland and the island of Ireland and the need, as co-guarantors of the Agreement, to encourage co-operation between the Northern Ireland Executive and the Government in terms of how we can work more effectively together, there is serious potential that has not yet been realised in respect of the level of co-operation that can take place where the political will exists and where the mutual benefit is obvious, in particular, in the constrained economic circumstances in which we find ourselves. Efforts have been made by both the Northern Ireland Administration and Irish Government to identify sensible co-operative projects in which we should be engaged given the very serious impact of the recession on the Exchequer.

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