TEESSIDE’S economy is a great example of what the UK should be endeavouring to achieve, an industry organisation boss last night claimed.

Carolyn Fairbairn said the region’s achievements should be used as a template, highlighting its manufacturing capabilities and plans to create thousands of jobs on the former Redcar SSI UK steel site.

Ms Fairbairn, CBI director-general, was speaking at the body’s annual Teesside dinner at Crathorne Hall Hotel, near Yarm.

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She said: “What a year it’s been, with a surprise General Election, ongoing Brexit uncertainty, a new industrial strategy and an economy with rollercoaster highs and lows.

"But whatever the uncertainties, Tees Valley is an amazing example of how to deal with them.

“60 per cent of the UK’s chemical exports are produced in the Tees Valley, and it is leading the UK when it comes to innovation.

"One of the most exciting new developments is the plan to completely re-develop Redcar.”

However, Ms Fairbairn did issue caution on Brexit.

She added: “The Government and the EU need to make progress and sort out transitional arrangements."