Taoiseach: NI Corporation Tax powers will help the whole island of Ireland

The Taoiseach Enda Kenny says he welcomes the fact the Stormont Executive is to have the power to set Corporation Tax.

The power is expected to be devolved from Westminster by 2017.

It was reported at the weekend that the North could cut the rate to 10%, lower than the Republic of Ireland's 12.5%.

Addressing the British Irish Parliamentary Assembly in Dublin this morning, Mr Kenny said it will help the island of Ireland economy.

He said: "I really want to welcome the recent announcement on Corporation Tax powers for Northern Ireland which will, I believe, be very helpful in allowing Northern Ireland develop its economy, which in turn will help the prospects for everyone on the island."