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Video: Lower corporation tax rate 'crucial', says NI Chamber of Commerce's Nick Coburn

It is "crucial" that a lower corporation tax rate in NI is implemented by 2018.

That is one of the key priorities outlined by Nick Coburn, the new president of the Northern Ireland Chamber of Commerce and Industry.

Mr Coburn, who is managing director of Ulster Carpets in Portadown, was speaking at a business breakfast as Allstate in Belfast, organised by the Chamber, at which recently appointed NI Economy Minister Simon Hamilton was the keynote speaker.

Mr Coburn told around 100 of the province's top business men and women: "It is more important than ever that NI continues to sell itself as an attractive location for inward investment, based on the continuation of tax and talent.

"Therefore it is crucial that a lower corporation tax rate is implemented by 2018."

The president also stressed it was vital to develop new trading agreements as quickly as possible and to "minimise the risk of a potential physical border between NI and the Republic."

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