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Budget Resolutions and Economic Situation

Alas, I do not have a cable car, but that is a great idea for a new business in my constituency, although where it would take people from and to, I am not exactly sure. There is no support for transport, despite the fact that business leaders in the north-east have expressed concern that a failure to invest in the region's transport network could stifle long-term growth. They have made a point that without the right transport and energy supply infrastructure, the region could struggle to realise its full potential. I hope the Minister will take on board these matters in her comments. What do we know from the analysis of the Budget so far? I have with me an extract from the Financial Times, which concludes that that it is a Budget ““without economic significance””. It also says that the Government have absolutely no plans in place to change the unhappy outcome of the slump, and that includes, critically, no plans for the north-east of England. What we do know is that the unemployment figures for the north-east are much higher than those for the south-east: 10.6% in the north-east, compared with 6.6% in the south-east. IPPR North has said that it is the largest gap since the labour force survey began. One might have expected the Red Book reforms to prioritise the north-east in support for economic growth, but in fact there is only one mention of the north-east in its many pages dealing with growth, compared with seven mentions for London. I want to see economic growth in London. It is our capital city and it is important that it is supported. However, that does not excuse giving no attention to the north-east apart from one mention of Newcastle. County Durham is not mentioned at all.