Vital Signs North East: Economy

Economic challenges

The UK is not doing too well, and the North East is lagging behind on key measures of economic prosperity. But as a country and a region, we have huge economic potential. A renewed commitment to close the performance gap between English regional economies, in combination with progress on devolution, opens up opportunities to create a more prosperous future. The heavy lifting will be done by government and the private sector, but needs active involvement of civil society organisations if rhetoric on engagement, socially responsible development, inclusion and outreach is to translate into reality.

• National challenges: low productivity, high regional disparities, ageing workforce, long-term health issues.
• North East England challenges: long-term economic weaknesses; particularly affected by impact of Brexit and the pandemic; limited progress on ‘levelling up’.

Helping ensure everyone can contribute to, and benefit from, a prosperous region

• nurture greater interest in entrepreneurialism and self-employment
• support individuals with talent and ability from all backgrounds to become world-class innovators
• foster arts, heritage and environment initiatives that underpin our tourism offer
• help those yet to realise potential as a result of disadvantage, focusing on vocational education and skills
• support social entrepreneurs from marginalised communities to provide wider opportunities for economic inclusion
• address individual and institutional prejudice and discrimination

Increasing civil society organisations’ capacity to be strong economic partners:

• help so they can and negotiate fair contracts and financing
• support them to ensure economically marginalised people’s voices are heard