Sunder-wood needs Government, sorry, our cash

The idea of one of Europe's biggest film studios opening on Wearside, widely tittered at when first mooted, could now be a mere signature or two away from happening. But it is not exactly a certainty.

Investment in the hundreds of millions is required, so the 50 quid I was willing to lob in would be unlikely to make a material difference. However, Fulwell 73 Productions bigwig Leo Pearlman says £450m of private investment has been secured.

What is now required is funding from the Government, whose backing could have positive repercussions far beyond the proposed Pallion site, including the creation of 8,500 jobs.

Mr Pearlman has told the BBC: "It's in their hands, whether they take this opportunity to not only regenerate the region, but also to improve the chances of a UK creative industry, on a national basis, from succeeding or failing."

Sunder-wood, which is emerging as the preferred silly soubriquet, needs the cash. However, this is not the begging bowl. It isn't Government money. It's the public's money.

Although an exact figure is yet to be made public, we can't help but look at the South's impressive new Elizabeth Line, which set us back £19 billion but is deemed to be worth it.

Obviously we are comparing chips with Tuesday here; a huge suburban rail service and a film studio. Yet a small fraction of £19 billion would do nicely back in Sunderland; and could prove a sound investment.

Any Government monies coming the way of the studio project could be conditional upon... this and that. I am in no position to blind people with fiscal science (clearly) , but a successful project would put money back in the Treasury.

What was the Government's £600million loan to EasyJet conditional upon? The airline was given it during the pandemic to keep it going. There were no conditions attached and if EasyJet had gone pop, then so too would our cash. Wise?

We aren't addressing any particular colour of rosette here and all politicians are acutely aware of an impending general election. The last one could easily have seen all three Sunderland seats changing hands. Just saying.

Action!