The Borough's future lies in Europe

14 AUGUST 2002

One of the strong messages to come out from the Council-commissioned Comedia Report, was that South Tyneside must be more confident and 'outward looking'. By identifying the right partners, they say we will strengthen the position of the Borough as a whole. I agree with that. But this powerful message isn't just a wake-up call for the Borough, it's a message that applies to our trade overseas with fellow European countries too.
South Shields has been trading with other nations for hundreds of years. By doing business with people overseas, the town and people have benefited both economically and culturally. Just as it would have been crazy to hamper our town's trade with other European countries during the 19th and 20th Centuries, it would be reckless to make that decision today in the 21st Century. Incredibly, 142,000 jobs in the North East depend on our ability to export to the European Union.

Some people say of Europe and the Euro, no matter what the economic benefits to the country, they will oppose entry. Think about that. Never. What would that mean for South Tyneside? The decision by Nissan to continue producing at Sunderland was directly linked to the Government's decision not to rule out the single currency.

Once we accept that the 'No, never' approach is not good news for either South Tyneside or the country as a whole, we must then think hard about when the right time might be. Last month I attended the launch of a new campaigning group called South Tyneside in Europe. In a crowded meeting room in Boldon, people from across the Borough discussed the benefits to the Borough by adopting the single currency. They came from all walks of life: business, education, public, private and voluntary sector. The South Tyneside in Europe group aim to equip people with the facts and persuade people that it's in the Borough's interests for Britain to join the Euro.

Throughout the next few months they will be out and about the Borough listening to people and giving the case for why we should join. This is one of the first local groups in the country to begin campaigning for a 'yes' vote, so we really are showing the way.

The fact that there was such a good mix of people at the launch meeting is important for any campaign. However it shows just we will all benefit from the Euro in a variety of ways. For example, businesses in South Tyneside would make savings and gain stability from not having to change currency for over half of their import and export orders. Price transparency and consumer pressure will expose firms that sell goods at three-quarters of the price throughout the rest of Europe and should make CDs, cars and food cheaper in Britain. Interest rates will be lower if we joined the Euro and that means lower mortgage payments too.

Quite a lot of people will be having their summer holidays in a European country. People might notice the many different types of Euro notes each with different designs for each member country. Don't forget we could still retain the Queen's head on our coinage and would still set our own taxes. Some anti-Europeans claim that by joining the Euro we will somehow become less British. I think that this argument shows a startling lack of confidence. In the same way that we do not lose our national identity by participating in the World Cup, we would not be less British if we joined the single currency!

So look out for the South Tyneside in Europe group and find out the facts and how the Euro will affect you. The stakes are high for our Borough so we must all be confident in the decision we eventually make. The Government will only call a referendum when the economic tests have been passed. But then, the decision to join will be down to you. The Government have promised a referendum if they believe the economic conditions are right. It's a national decision about our future.