GDP decreases but region remains bullish

THE REGION’S business leaders have said sales and orders are still growing in the North East, despite yesterday’s shock contraction in the UK economy.  The UK’s economy suffered a 0.5% contraction in the last three months of 2010, according to figures released by the Office for National Statistics (ONS).  The severe weather… More →

Advancements in electric cars will benefit the North East, says MEP

AS the North East gears up towards playing an important role in the production of electric vehicles, one of the region’s MEPs is taking things one step further by pushing for a  European electro-mobility strategy. Nissan’s Leaf will be built on Wearside in 2013 and North East MEP Fiona Hall believes… More →

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Was the winter freeze to blame for the economic slump?

THE Forum of Private Business reacted negatively to GDP figures illustrating that the economy shrunk by 0.5% in the final three months of 2010, following four successive quarters of growth.

The Government has blamed the bad winter weather for the slump but the Forum is arguing that slow movement on policies to improve business finance – including addressing the lack of affordable lending from banks and tackling the £24 billion in late payments owed to small firms across the UK – are the real reasons why the economy is facing a ‘double dip’ recession. 

But where do you think the problem lies and who is to blame for the contraction in the economy? Vote on this bdaily’s weekly poll!

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