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Parties make their pitch to Brown Parties make their pitch to Brown
(about 1 hour later)
The Northern Ireland political parties are travelling to London to meet Chancellor Gordon Brown.The Northern Ireland political parties are travelling to London to meet Chancellor Gordon Brown.
Wednesday's meeting is being described as a "first pitch" for a so-called peace dividend.Wednesday's meeting is being described as a "first pitch" for a so-called peace dividend.
The parties will sit down with Gordon Brown in 11 Downing Street and each will be given a few minutes to lay out their priorities for funding.The parties will sit down with Gordon Brown in 11 Downing Street and each will be given a few minutes to lay out their priorities for funding.
Following this, the chancellor will share his views in a round-table discussion.Following this, the chancellor will share his views in a round-table discussion.
It is thought the parties are all agreed on the key items on the shopping list - they want massive investment in infrastructure; a cut in the rate of Corporation Tax and a concession on water charges.It is thought the parties are all agreed on the key items on the shopping list - they want massive investment in infrastructure; a cut in the rate of Corporation Tax and a concession on water charges.
People want to see action and they want to see it now Basil McCreaNorthern Ireland Manufacturing Focus Group
There will also be calls for a reduction in fuel duty, even though the government recently rejected this idea.There will also be calls for a reduction in fuel duty, even though the government recently rejected this idea.
The parties are hoping for a financial package worth up to £5bn over five years and they insist that this should be new money, over and above the NI block.The parties are hoping for a financial package worth up to £5bn over five years and they insist that this should be new money, over and above the NI block.
No deals done will be done on Wednesday - but the parties have said they are keen to lay the foundations for a package that would underpin devolution.No deals done will be done on Wednesday - but the parties have said they are keen to lay the foundations for a package that would underpin devolution.
Speaking ahead of the meeting, DUP deputy leader Peter Robinson said the financial package was "a necessary precondition for any restoration of devolution".
"Unless the financial package is satisfactory, then there is little benefit in any return of devolution," he said.
Sinn Fein finance spokesman Mitchel McLaughlin said his party was calling on the British government to "invest £10bn in a peace dividend over 10 years".
"We will also be making proposals with regard to the role of the executive in relation to public finances and the need to bring forward alternatives to replace those jobs lost in manufacturing, agriculture and textile over the last decade."
'A clear signal'
Meanwhile, Northern Ireland businessmen are making a plea to the chancellor to cap industrial rates.Meanwhile, Northern Ireland businessmen are making a plea to the chancellor to cap industrial rates.
Basil McCrea, spokesman for the Northern Ireland Manufacturing Focus Group, said the business community needed some form of rates relief.Basil McCrea, spokesman for the Northern Ireland Manufacturing Focus Group, said the business community needed some form of rates relief.
"People want to see action and they want to see it now," he said."People want to see action and they want to see it now," he said.
"Capping industrial rates at 25% is a thing the government can do now."Capping industrial rates at 25% is a thing the government can do now.
"It would send a clear signal to the business community and the people of Northern Ireland that the government is listening to what we want.""It would send a clear signal to the business community and the people of Northern Ireland that the government is listening to what we want."
In July, Northern Ireland Secretary Peter Hain refused to cap rates at 25%, amid industry claims that rate increases would cripple the manufacturing sector.In July, Northern Ireland Secretary Peter Hain refused to cap rates at 25%, amid industry claims that rate increases would cripple the manufacturing sector.