Minister for Finance Brian Cowen denied yesterday that he was attempting to "put anyone's nose out of joint" after he endorsed the candidature of SDLP leader Mark Durkan during a visit to Derry.
Mr Cowen told business representatives that he believed a period of stability in the North could lead to spending of up to €100 billion by the British and Irish governments in cross-Border projects.
Last week Labour Party leader Pat Rabbitte and Fine Gael leader Enda Kenny joined Mr Durkan on the campaign trial in the Foyle constituency, where the SDLP leader is defending the seat held by John Hume.
Yesterday Mr Cowen said if he were able to vote in the constituency in next month's general election, he would vote for Mr Durkan.
"I am not here to put anyone's nose out of joint, I am here to support Mark Durkan.
"I think he has been an outstanding finance minister in the Assembly and he is a good personal friend of mine. He is here to contest and to hold John Hume's seat and I am delighted to be here to be associated with his efforts," Mr Cowen said.
Asked if he was telling voters in the constituency not to vote for Sinn Féin, Mr Cowen said he would tell them "Mark Durkan is an excellent candidate to succeed John Hume. They will vote for whomever they wish and obviously I am here to support whom I would like to see them support."
Mr Cowen said if he could vote in the election, "I would be voting for the man beside me. He espouses some of the economic republicanism that is relevant to 21st-century Ireland".
Mr Cowen said the SDLP had the "most economically literate agenda" of the Northern parties.
"They understand the economics that are required to bring peace and prosperity to the people of Northern Ireland."
Later, Mr Cowen told representatives of Derry's business community that, given a period of political stability, up to €100 billion could become available to spend on an all-Ireland basis over the next decade.
"It is my firm contention that the huge progress that has been made economically in both parts of Ireland in recent years is due in part to the peace process and the Good Friday agreement, but we are only scratching the surface of its potential to bring mutual benefit for all of our people," he said.