Today's Journal quotes Lib Dem shadow chancellor Vince Cable as suggesting he would cut money used to support One North East and other regeneration groups while at the same time slashing the budget for the export guarantee credit department.
The export office has been described as having huge importance to the region, which still has a large manufacturing base dependant upon the guarantees offered in case foreign companies fail to pay up.
It effectively safeguards job in the North East by ensuring companies do not have to lay off staff if they do not receive payments.
Dr Cable said he would look to hand some regeneration cash to councils but warned of deep cuts as part of “a radical programme of reform”.
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