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| Version 2 | Version 3 |
|---|---|
| Funding package 'needs more work' | Funding package 'needs more work' |
| (40 minutes later) | |
| Northern Ireland's political parties have said more work must to be done to finalise the so-called peace dividend. | Northern Ireland's political parties have said more work must to be done to finalise the so-called peace dividend. |
| Chancellor Gordon Brown has announced a £50bn spending package linked to the establishment of a Stormont executive. | Chancellor Gordon Brown has announced a £50bn spending package linked to the establishment of a Stormont executive. |
| However, the parties are disappointed the chancellor has not offered to cut corporation tax. | However, the parties are disappointed the chancellor has not offered to cut corporation tax. |
| The DUP called the funding an "opening offer" which was no more than £3bn of new money, while Sinn Fein leader Gerry Adams said it was still early days. | The DUP called the funding an "opening offer" which was no more than £3bn of new money, while Sinn Fein leader Gerry Adams said it was still early days. |
| The parties want corporation tax reduced from 30% to match the Irish Republic's rate of 12.5%. | The parties want corporation tax reduced from 30% to match the Irish Republic's rate of 12.5%. |
| 'Extraordinary settlement' | 'Extraordinary settlement' |
| However, according to Northern Ireland Secretary Peter Hain, the package on offer represents an "extraordinary settlement". | However, according to Northern Ireland Secretary Peter Hain, the package on offer represents an "extraordinary settlement". |
| One economist said the new money could be as little as £2.5bn, but Mr Hain said even this sum would be generous. | One economist said the new money could be as little as £2.5bn, but Mr Hain said even this sum would be generous. |
| "If it were only £2.5bn, people ought to be grabbing it before the chancellor has a chance to close his red box," Mr Hain told the BBC's Good Morning Ulster on Thursday. | "If it were only £2.5bn, people ought to be grabbing it before the chancellor has a chance to close his red box," Mr Hain told the BBC's Good Morning Ulster on Thursday. |
| "No other part of the United Kingdom, including Wales which I also represent as its secretary of state, has got anything like this package." | "No other part of the United Kingdom, including Wales which I also represent as its secretary of state, has got anything like this package." |
| Mr Brown, who announced the package after Wednesday's talks with Northern Ireland's political parties, said the funding would be worth £50,000 per household in Northern Ireland. | Mr Brown, who announced the package after Wednesday's talks with Northern Ireland's political parties, said the funding would be worth £50,000 per household in Northern Ireland. |
| The general consensus afterwards among the politicians was that more work needed to be done to finalise the so-called peace dividend. | The general consensus afterwards among the politicians was that more work needed to be done to finalise the so-called peace dividend. |
| It is necessary to get this package to a state where it is acceptable Peter RobinsonDUP deputy leader Mr Adams said the chancellor had indicated he was prepared to talk further on the subject of corporation tax. | It is necessary to get this package to a state where it is acceptable Peter RobinsonDUP deputy leader Mr Adams said the chancellor had indicated he was prepared to talk further on the subject of corporation tax. |
| Mr Adams said: "We have to come at this positively. | Mr Adams said: "We have to come at this positively. |
| "The British chancellor has come up with a whole series of measures. We have to look at the detail of it." | "The British chancellor has come up with a whole series of measures. We have to look at the detail of it." |
| DUP deputy leader Peter Robinson said: "The chancellor has to start from some point - we might have hoped he could start from a slightly higher point than he did. | DUP deputy leader Peter Robinson said: "The chancellor has to start from some point - we might have hoped he could start from a slightly higher point than he did. |
| "It is necessary to get this package to a state where it is acceptable." | "It is necessary to get this package to a state where it is acceptable." |
| Ulster Unionist leader Sir Reg Empey said that they were "disappointed" by the response on corporation tax. | Ulster Unionist leader Sir Reg Empey said that they were "disappointed" by the response on corporation tax. |
| But he added: "I don't think this marks the end of it. We have to use this as the commencement of a process." | But he added: "I don't think this marks the end of it. We have to use this as the commencement of a process." |
| The cash offer is linked to the return of devolutionThe SDLP's Mark Durkan said the detail of the package still needed to be studied. | The cash offer is linked to the return of devolutionThe SDLP's Mark Durkan said the detail of the package still needed to be studied. |
| Mr Hain said EU law banned the government from lowering corporation tax levels solely in Northern Ireland. | Mr Hain said EU law banned the government from lowering corporation tax levels solely in Northern Ireland. |
| "There is a problem in that our legal advice tells us that under the Azores ruling, it is illegal under EU rules for a member state to allow one region to adjust its level of corporation tax while maintaining another level in the rest of the country. | "There is a problem in that our legal advice tells us that under the Azores ruling, it is illegal under EU rules for a member state to allow one region to adjust its level of corporation tax while maintaining another level in the rest of the country. |
| "In other words, you can reduce the level of corporation tax for everybody in the UK or nobody at all. Sinn Fein and the DUP have challenged that - we are getting our Treasury experts on to it." | "In other words, you can reduce the level of corporation tax for everybody in the UK or nobody at all. Sinn Fein and the DUP have challenged that - we are getting our Treasury experts on to it." |
| Mr Brown said he was still considering the parties' views on the package, but there was much there to attract inward investment and stimulate the economy. | |