Northern Ireland's economy is being held back because of interests in London and the southeast of England, according to businessman Denis O'Brien.
Speaking in Belfast yesterday at the launch of the SDLP's policy paper Shaping an All-Island Economy, Mr O'Brien called for an all-Ireland corporation tax of 12.5 per cent.
He said the North's unfavourable rate of 30 per cent is an issue politicians and policy makers should be fighting to change.
"It is not sustainable in such a small island that one part of the island enjoys success driven by the private sector with the help of a low corporate tax rate, while the other part is being held back because of interests in London and the southeast of England.
"The political leadership of Northern Ireland and the south of Ireland, Invest Northern Ireland, InterTradeIreland and Enterprise Ireland have to work closer together to achieve the success which Northern Ireland is not only capable of, but also deserves."
With an announcement of investment from the British and Irish governments of almost €100 billion over the next six years, Mr O'Brien said the time was right for North and South to work together.
"We now have both parts of this island with a pro-business, pro-employment outlook which allows us to move towards a common policy covering taxation, investment, education, research and skills."
SDLP leader Mark Durkan admitted he did not foresee an all-island corporation tax rate in the near future. "I'm not going to tell a lie. Certainly there have been no encouraging signals from Gordon Brown or anybody else in the Treasury. But we still need to keep making the point."
