Northern Ireland needs 12.5% tax says media chief

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.