BELFAST BRIEFING:THERE IS a new breed of hero emerging in Northern Ireland - one that definitely does not fit the traditional job description. This unlikely hero does not employ tights or capes, at least not during office hours and appears to have no discernable superpowers.

So what makes this champion of the people special? Well for one they support a cause they believe is worth fighting for and two because they are doing it for the greater good.

So who is this "hero" of sorts?

Well look no further than your average accountant, or to be more precise the Institute of Chartered Accountants in Ireland (ICAI) and the North's Business Alliance.

They have risen to the challenge of putting one of Gordon Brown's most trusted advisers in the picture as far as the North's economy is concerned.

Sir David Varney was appointed by the British prime minister, Gordon Brown, last year to carry out a review of how tax policies might help grow the economy in the North. Every business organisation in the North put the case to Varney about why a new reduced rate of corporation tax is needed.

It is a simple argument: the North (with its 30 per cent corporation tax rate) has to compete for every job and every new investment against the Republic which has a far lower rate of 12.5 per cent.

Varney rejected the views of the North's business community and his stance, obviously, was not greeted with much joy. But in a bid to placate angry politicians and business leaders Brown gave the go-ahead for a second review which has now become affectionately known as Varney 11.

This is expected to be published any day now ahead of the high profile US-NI Investment Conference which takes place in Belfast next month.

As he did the first-time around, Varney has been engaged in a series of meetings with the North's business leaders ostensibly to "explore in more detail how to expand the private sector and to enhance Northern Ireland's competitiveness".

That is where our local heroes come in.

The ICAI and the Business Alliance - a partnership of CBI Northern Ireland, the Centre for Competitiveness, the Institute of Directors and Northern Ireland Chamber of Commerce and Industry - have refused to give up on the prospect of securing a lower rate of corporation tax in the North.

The Business Alliance has told Varney again that it believes a lower rate could "create the new dynamic to attract the quantity and quality of private sector investment needed" in the North.

And it has suggested a host of other incentives for Varney to consider including the possibility of enhanced R&D tax credits, training credits and enhanced capital allowances.

The ICAI has also reiterated the importance of a 12.5 per cent corporation tax rate to Varney.

It has pleaded with Varney to take a closer look at the evidence presented to him in support of both a cut in corporation tax levels and other short-term fiscal measures which could attract investors. The ICAI claims next month's investment conference is a one-off opportunity for the North to attract significant investment and build on goodwill.

A total of 48 US companies have now signed up to take part in the conference - the mayor of New York Michael Bloomberg and the New York Stock Exchange Euronext chief executive Duncan L Niederauer also plan to attend the event which runs on May 7th- 9th.

But the ICAI has warned Varney that if real progress is to be made during the conference something more than sentiment needs to be on offer to potential investors.

"Something has to distinguish Northern Ireland from all other similar regions as an attractive destination for foreign direct investment," says the ICAI.

It may appear to some that the North has an unhealthy obsession with corporation tax levels.

Bill Tosh, the chief executive of Dundalk Chamber, believes the continuing debate over tax levels on the island detracts from an opportunity to invest in a new cross-Border economic dynamic.

Tosh says promoting the concept of a harmonised corporation tax rate in "in isolation from any other costs or fiscal instruments" is in his opinion "disingenuous and unsustainable". He believes a new debate should be launched on how the Irish and British governments could work together "in a joined-up fashion" to create new economic opportunities on both sides of the border.

It is a debate worth promoting but in the meantime Northern Ireland has an investment conference to host and David Varney has an opportunity to contribute to its success.

The Business Alliance has told Varney that the North has a chance now, perhaps for the first time in more than 30 years, to take control of its own future.

"It is a time for bold decisions and will require short-term intervention as a catalyst for growth of the economy," suggests the Business Alliance - in short, it is a time for heroes to stand up and be counted.