There was an immediate and whole-hearted welcome from business groups on Tuesday as news of the deal emerged and the resulting pledge to devolve corporation tax powers.
After weeks of waiting and warnings over the critical need for action to protect and encourage economic growth, CBI Northern Ireland chairman Colin Walsh said the entire business community had been encouraging political representatives to reach a deal.
“I hope this is a sign that all the parties will continue to work collaboratively going forward in the interests of everyone within the community.
“This is essential in building confidence in the economy and necessary to building bridges within our community, and helping create higher levels of trust, respect and improved relationships.
“The announcement that corporation tax will be devolved to the Assembly in early 2015 will help boost confidence within the business community.”
Kevin Kingston, president of the Chamber of Commerce and Industry (NI Chamber), said: “NI Chamber welcomes the fact that an agreement has been reached and that legislation will be introduced as soon as Parliament returns to enable the devolution of corporation tax in April 2017.
“We encourage the NI Executive to work in parallel on the implementation of key measures to deliver sustainable finances.”
Glyn Roberts, chief executive of the Northern Ireland Independent Retail Trade Association (NIIRTA), said a great deal of progress had been made.
“Political stability is a crucial bottom line for building economic prosperity.
“It is a very positive development that agreement was reached on the budget, welfare reform and most important of all – the green light to devolve corporation tax.”
“We hope that further progress can be made in resolving parades in the New Year.
“NIIRTA has consistently outlined the need for a reduced number of NI Executive departments and reform to make the Assembly operate more effectively.”
Nicola McCrudden, NI director of the Chartered Institute of Housing. said: “We remain hopeful that local politicians will take sensible steps to avoid the impact of the bedroom tax here.
“It has been clear for some time that this policy is causing hardship and suffering for thousands of people across Britain.”