The North East Must Be The Powerhouse Of The New Industrial Revolution

We have seen the effects of an economy overly focused on financial services. It has meant that our economy became massively unbalanced, based on a bubble and focused to much too great an extent on the South East of England. The result has been disastrous for our economy and our region. We need a considerably more balanced economy.

We need to return to the manufacturing that built our area and built a strong, sustainable British economy. Unlike New Labour, I believe that manufacturing has a massive role to play in a modern successful economy. This Government allowing the manufacturing sector to shrink by a third was a grotesque error. As Ken Clarke said in Manchester this week, "Britain has to make things again."

Our region can be leaders in the new industrial revolution. We were the powerhouse of the economy based on the first industrial revolution. We must be the powerhouse of the economy formed by the next industrial revolution. As an area, we have formidable skills, excellent natural resources and a first class track record of innovation. With the right leadership, we can and must be leaders in green technology, high-tech and niche manufacturing, and scientific innovation.

I believe in this area. I am passionate about this area. We can and will, with the right vision and leadership, be trailblazers for the new indutsries of the 21st Century.