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The Chancellor George Osborne has pledged £20m to help Newcastle University launch a national centre for the study of ageing.
The institute will develop dietary and exercise products that will help people live more comfortably in old age.
Mr Osborne said it was all part of his plan to create a 'northern economic powerhouse'.
Newcastle council leader Nick Forbes says he is going to send George Osborne a map so that he realises that a "northern powerhouse" would stretch as far as the North East.
Cllr Forbes says he will mark Newcastle on the map so that the Chancellor doesn't ignore his city when there's talk of a northern powerhouse, which includes Manchester and Leeds.
John Burn , the professor of Clinical Genetics at Newcastle University, has welcomed news in the Chancellor's Autumn Statement that there will be £20m of new funding into research in Newcastle.
The money will go towards investigating the effects of an ageing population on the NHS.
Click below for Professor Burn's comments.
As of midnight, 98% of homebuyers will be affected by reforms to stamp duty - find out how much you will pay under the new system.Read the full story ›
Virgin Money has announced that it will create 200 new jobs, 120 of which will be based in the North East.
The announcement was made earlier today when the Chancellor, George Osborne, visited Virgin Money's site in Gosforth, Newcastle. The visit also included a tour of the bank's high street branch in Newcastle city centre.
Virgin Money bought Northern Rock from the Government in 2011. As part of that deal, Virgin Money will pay a further £154.5 million to the Treasury.
Virgin Money has announced that it will create 200 jobs, 120 of which will be based in the North East.
The announcement was made earlier today when the Chancellor, George Osborne, visited Virgin Money's site in Newcastle.