Economic prosperity and cost of living take centre stage at North East LEP event

Expert speakers from The Institute of Directors, CBI and the Resolution Foundation will join the North East LEP on November 15 to discuss economic prosperity in the region and the cost of living crisis as part of the North East LEP’s annual Our Economy event.

Looking at the current performance of the North East economy and how it is developing over time, and key national and international issues impacting the region; Our Economy has been expanded in 2022 and returns to an in-person format at Crowne Plaza Newcastle.

This year’s event will focus on how the economic gains in the North East from 2014-2020 have been impacted by recent economic shocks, and the prospects for prosperity for the region’s business and residents.

Kitty Ussher, chief economist at The Institute of Directors; Mohammed Jamei, director of economic projects at the CBI; and Mike Brewer, deputy chief executive of the Resolution Foundation; will join Richard Baker, strategy and policy director at the North East LEP, to discuss prospects for investment, business growth and employment in the region.

Lucy Winskell OBE, Chair of the North East LEP, will open the event and host the panel discussion. Lucy commented: “Each year the North East LEP uses data gathered from the North East Evidence Hub to present the current economic outlook in the region.

“By gathering and using data, evidence and knowledge in this way, we’re able to inform strategic economic planning and work with political and business leaders to inform decision making. This kind of evidence-based approach is essential; particularly in such turbulent economic times.”

Our Economy 2022 is set to explore what the future holds in the economic and financial environment, and what this means for prosperity in the North East. It will also consider what can be learnt from responses to previous economic shocks as residents, businesses and institutions navigate their way through the current cost of living crisis.

A series of in depth, expert panel discussions will take place following the main Our Economy event to explore some of the themes and issues raised. Topics include evidence and data; business – discussing what the evidence means in practice; people – the implications of the cost of living on people and communities; and emerging markets.

Richard Baker, strategy and policy director at the North East LEP, noted: “We’ll be asking leading economists from the CBI and the Resolution Foundation for their insight on living standards and the costs and wider environment for doing business.

“Understandably there are real concerns about net incomes and current living standards for residents as well as significant challenges for business resilience. Our Economy 2022 is an opportunity to debate what we can do in the region to help drive forward at this time of uncertainty.”

By Matthew Neville – Correspondent, Bdaily

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