Economics of peace - Concessions to North are a lesser cost

ANOTHER relatively minor but very significant step towards turning the hatreds of the past into the opportunities of the future takes place today when the North’s assembly resumes after the summer break.

Ian Paisley and Martin McGuinness are still at the helm and the hopes of nearly everyone in the 32 counties of this country are that they will succeed in working together to turn a stunted and divided part of Ireland into a vibrant region with a thriving economy.

All of those involved know that all their compromises and the thousands of funerals of the past three decades will stand for nothing unless there is an economic dividend that can be shared by all of the population.

A key moment is anticipated late next month when Sir David Varney’s economic review of the North will be published. It is anticipated that he will have proposals on corporation tax that might narrow the gap between the two rates on the island — 28% and 12.5%.

If he has it will have consequences for the south just as the Aer Lingus move to Belfast had.

Nonetheless it is a small price to pay for the end of the cancer that for three decades overshadowed this country.