Northern Ireland Economy Minister Adam Ingram has finally figured that what is good for his neighbours South of the Border might be equally propitious in the North - namely an invitingly low rate of corporation tax for foreign firms investing in the area.

Having just battled hard with Brussels to preserve the tax breaks here in the short term, it might be expected that IDA Ireland would not be thrilled at the prospect of such increased competition from North of the Border. The good news is that it looks as though it won't have to take up cudgels too hastily in its own defence. Between internal tensions with other regions of the UK and the need for EU approval, it might be a long time, if ever, before the new corporate tax regime becomes reality.