I spoke on Friday to Yorkshire’s property professionals about the routes out of recession at the RICS Yorkshire economic summit. The importance of regional economies cannot be underestimated as we emerge tentatively from recession. The regional strategy developed by Yorkshire Forward and the government has done a great deal to support our region and our jobs.

Yorkshire and the Humber has been hit hard by the global recession. Business has suffered, jobs have been lost. The unemployment rate, at 8.6%, is higher than the national rate. West Yorkshire has been hit by the takeovers of HBOS and Bradford and Bingley, with consequences well beyond the financial sector. But practical measures are beginning to make a difference.

I have seen first hand at small businesses across Leeds West that we are at a turning point. Quantitative easing, interest rate cuts, the car scrappage scheme, support for apprenticeships, the VAT cut and active government spending has been crucial in easing the impact of the recession. Loan guarantees have helped 400 Yorkshire businesses, while next year there will be 22,000 apprentices in the region.

Public spending commitments, such as the £2bn Decency standard for homes and major projects such as at St.James’ hospital and the school building programme have supported the local construction industry as private projects dried up.

Significant investment in training and skills is also important, an area where Yorkshire generally underperforms. Yorkshire Forward have enhanced the Train to Gain scheme by £50m. The government is ensuring that students will stay in education or apprenticeships until they are 18, and every young person unemployed for a year will benefit from a guaranteed job or training place. These measures are important to keep the region competitive in the new economy.

We also need to continue working with the financial services industry, recognising that major banks employ 240,000 people in Leeds alone. Maintaining a financial services sector, as part of a strategy to emphasise the diversity of industry in Yorkshire, will ensure the region emerges from recession strongly.

And the Humber has the potential to be a major source of green jobs – particularly in off-shore wind, with a potential 40,000 jobs up for grabs in the region.

The decisions taken on a regional level through this recession have limited the effect of the recession. Tory opposition to every government step that has supported the economy cannot be overlooked. One must question where local businesses would be had the Tories had the chance to steer the economy through the global credit crunch.

There are clear reasons to be positive in Yorkshire and Humberside – but we must continue with a regional economic strategy to support businesses and jobs here in Yorkshire.