11:51

The failure of the talks to restore power sharing in Northern Ireland has claimed another casualty - the move to create a low corporation tax regime in the region.

Top Stormont civil servants who are now in charge of running devolved government departments in Belfast have warned that the deadline for April 18 to introduce a 12.5% corporation tax “may slip” if local politicians do not reach a deal to re-establish devolved cross-community government.

One of the few things that united the two main parties - the Democratic Unionists and Sinn Fein - was the drive towards a low corporation tax rate similar to that in the Irish Republic which has created hundreds of thousands of jobs south of the border, mainly in the hi-tech multi-national sector.

The campaign by Invest Northern Ireland to encourage foreign direct investment has even involved Ballymena-born Holywood star Liam Neeson. Yet beyond the sprinkle of stardust the key selling point to multi-national hi-tech giants was meant to be a 12.5% corporation tax regime.