THE rebirth of the Weardale Railway was a proud day for the North-East - an overdue realisation of the value of the region's unique railway heritage.

The fact that the initiative hit financial problems so soon after its launch was the sad result of a great deal of business naivety by the enthusiasts who worked so hard to turn their dream into a reality.

A significant amount of public money has been pumped into the project via the Heritage Lottery Fund and One NorthEast and it is right that the use of those funds was rigorously assessed.

A Government agency such as One NorthEast cannot be seen to be pouring good money after bad. It has to be sure that lessons have been learned from previous mistakes and that sustainable business plans are in place to give the railway a fighting chance of being a success.

Having said that, we are delighted that a rescue package has been agreed because the Weardale Railway has to be worth persevering with, as a key component of fulfilling the tourism potential of one of England's most beautiful dales.

It would be premature to believe that all the problems are in the past. The railway has still to prove that it can survive in the long term.

But we know that there is no shortage of passion and effort. It just needs to be matched by sound business acumen.