Hope for Tyneside The acquisition by the North Eastern Trading
Estates Company of a site for development in the Team Valley, near Gateshead, is tangible evidence that the Government means to fulfil one of its most attractive election promises. The company, set up by the Special Commissioner for the North-Eastern area and financed out of funds assigned to him for that purpose, will develop the site as a trading estate which should attract new industries to Tyneside ; a. second estate is promised for South Wales. The company has many advantages to offer—special credit facilities, new and modern factories, excellent road and rail communications, a large labour reserve.; but more than that may be necessary if the prevailing trend of industry to the South is to be overcome. The Govern- ment has a special responsibility for the success of the scheme and can do much to ensure it. It can relax the " red-tape " regulations which have hampered the Special Commissioners in their difficult work ; it can give relief from the burden of rates which is so heavy in areas where a third of the insured population is un- employed that in itself it drives capital away ; it can ensure that a proper share of rearmament orders go to the depressed areas. For it must be remembered that, even when all other disadvantages are overcome, capital has a natural inclination to avoid areas noted for labour troubles And an intransigence born of legitimate dis- content.
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