Published Wednesday, 19 September 2012
NI leaders in corporation tax talks. (© UTV)
Peter Robinson and Martin McGuinness argued the case for devolving the power to set the business tax rate locally, as they met Mr Cameron alongside political leaders from Scotland and Wales at the joint ministerial council summit in London on Wednesday.
The talks come in the wake of the announcement that 760 workers at engineering firm FG Wilson in Northern Ireland will be made redundant by the end of this year.
Mr Robinson said: "It needs to be tackled - we need to rebalance our economy.
"The government, nor indeed the Executive, has any other proposal on the table other than a reduction the level of cooperation tax. I think we have to deal with that."
Mr McGuinness said: "It's all down to how much it will cost and at the minute the cost that has effectively been pitched at us by the Treasury is a cost way beyond our means, so what we require is a political decision by the Prime Minister and political powers that be."
Currently the level of corporation tax in Northern Ireland is at the UK level of 28%, while the Republic of Ireland sits at 12.5%.
Business leaders argue that lowering it could attract investment and in turn create jobs.
The next stage will be a meeting in several weeks time of the Treasury and Executive ministers - however it is not expected to lead to a breakthrough in the issue.
© UTV News