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The Corporate Conquest: How should policymakers respond to economic leakage from the North East?

Friday 25 October 2013
12:00pm

Bamburgh Room, Kings Road Centre
Newcastle University
Newcastle upon Tyne NE1 7RU

The Corporate Conquest: How should policymakers respond to economic leakage from the North East?

It is regularly stated that London is the engine of the UK’s economic growth, implying that the North East and other regions are dependent on the South.

However, new research from the High Pay Centre shows that the dominance of major corporations in key markets for everyday necessities means that consumers in the North East have little option but to spend the bulk of their income with companies who promptly transfer most of their revenue out of the region.

Global supply chains mean that only a small proportion of every pound spent with national and international businesses in the North East continues to circulate in the local economy. Spending on mobile phone use, energy bills, petrol, clothing and supermarket groceries in the North East, for example, provides little return in terms of jobs and infrastructure spending. Much of the money is ultimately used to fund lavish executive pay packages, dividends for investors and commission fees for intermediaries in the City of London.  

This presents a major challenge for policy-makers already under pressure to ‘re-balance the economy’ in a region unfairly castigated for being overly-dependent on the public sector. Our event will ask:

Speakers include:

This is a joint event organised in conjunction with Millfield House.


Refreshments will be provided.


The event is free of charge and open to all. If you are interested in attending, please email hannah.orourke@highpaycentre.org
Map and directions are available here.

Posted on 4 October 2013

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