THE Northern Echo has argued long and hard in favour of the case for a deep-sea container terminal to be built at Teesport.

It has always seemed to us to make eminent economic sense for such a scheme to go ahead in the North-East, rather than adding to congestion in the over-heated south of the country.

It is, therefore, extremely good news that the plans, which could bring 5,500 jobs to our region, have moved a significant step closer after Hutchinson Ports, which owns rival terminals in Felixstowe and Harwich, withdrew its objections.

Since the scheme submitted by PD Ports already has planning approval from Redcar and Cleveland Borough Council, there is now no reason why it cannot be given the go-ahead by the Government and for work to start as quickly as possible.

On top of the vital work being undertaken to develop Durham Tees Valley Airport, we view the expansion of the port as one of the most important single initiatives in the region. It would be a huge boost to the aspirations to attract international business to this part of the country and narrow the productivity gap with the rest of Britain.

All the North-East has ever asked is for the chance to maximise its potential as a world-class location for business. A deep-sea container terminal at Teesport is vital to us achieving that goal.

The bubble bursts

THE deepening problems at Northern Rock make grim reading. It is sad that one of the region's best-known brands has found itself at the centre of such a damaging chain of events, now verging on hysteria.

Mistakes have clearly been made but we can't help feeling that this has been a crisis waiting to happen because of the way society has changed. A generation ago, there was a culture of thriftiness in which people saved for everything they got and lived within their means. These days, people can get almost anything they want on the basis that they can pay later. The bubble was bound to burst sooner or later.