Credit Crunch

“Naturally we are disappointed that, having put forward what we felt was widely recognised as a very strong bid, we have not been named."

Hugh Lang, Chair of the Tees Valley Unlimited partnership, following the announcement that Manchester and Leeds have been selected as the two initial areas of the country for the Government’s ‘City Region Forerunner’ initiative, giving them more control over their economic development.

"He has not gone far enough. That said, there are significant opportunities for the North East and the challenge is there for us to grab them."

James Ramsbotham, chief executive of the North East Chamber of Commerce, welcoming the Chancellor’s announcement that he is funding the creation of two to four new carbon capture and storage demonstration projects, but expressing concern that support for employers would not be enough to keep people in jobs.

Redcar MP Vera Baird QC

"This Labour government knows that recession is difficult for everyone, and that you can’t cut your way out of recession."

Redcar MP Vera Baird, giving her backing to plans for a new 50% tax rate for those earning over £150,000.

"It’s not a scrappage scheme for old cars that we need, but one for old and tired governments."

James Wharton, Conservative Candidate for Stockton South, calling for an immediate general election following the budget, which he claimed would not help families or businesses on Teesside.