IT started off as an opulent residence and now serves as an exclusive "club" for some of Yorkshire's leading entrepreneurs.

More than 300 business professionals from across Yorkshire attended the official launch of the Institute of Directors' (IoD) new facility for members and their guests, in Leeds city centre.

IoD members and guests gathered at 3 Albion Place to discover more about the services, which include a WiFi connected Directors' Room.

Built in 1820 as residences for the son and grandson of William Hey, a distinguished surgeon, 3 Albion Place was converted into 'The Leeds Club', a place where the city's leaders could meet, in 1863.

Over the last two years, the building and the club have been acquired and redeveloped by a group of companies led by David Criddle.

Leeds joins seven other UK cities including London, Manchester and Birmingham, as well as Brussels and Paris, as a centre where IoD members can meet and network with fellow business leaders.

Speaking after the launch, Nimble Thompson, regional chairman for the IoD in Yorkshire and the Humber, commented: "It has been one of my key aims to deliver a Yorkshire-based member facility during my time as chairman, in order to respond to the keen demand from our members."

The IoD has also moved its regional headquarters from the Headrow, in Leeds, to 3 Albion Place.

Brief encounter

With the credit crunch and recession looming, these must be interesting times for in-house solicitors.

It was heartening to hear some of Yorkshire's finest belting out a rather raucous version of American Pie in the Marriott Hotel, Leeds, last Friday night.

They were led by Doncaster-born comedian Steve Womack, who also acted as a cheer-leader for the charity auction and raffle, which raised £2,000 for the neo-natal unit at Leeds General Infirmary.

The North-East Commerce & Industry Group, who organised the dinner, represent the interests of
in-house lawyers who keep some of our biggest plcs ticking over. Their inboxes are probably rather full at the moment.

Taxing times

Wannabe Prime Minister David Cameron recently announced "tax changes that will help to encourage businesses to take on workers and keep workers". These include a pledge to cut corporation tax by 3p, to 25p.

What does business think of the Tory leader's proposal? Diary asked Richard Lambert, director general of the CBI, during his visit to Leeds last week.

He told us: "We think that corporation tax is uncompetitive and needs to be brought down over time. But a cut in corporation tax now would not have an immediate effect on the economy.

"We are saying you should have a strategy which over the next few years should lead to a much lower level of corporation tax. But we are not making the case now for an emergency cut in corporation tax."

Asked how long he thought the recession would last, the former editor of the Financial Times said: "I hope that by this time next year we will see that the effect of lower interest rates will be starting to be felt by families and they will also be benefiting from a marked slowdown in inflation.

"By the second half of next year we hope that families will be feeling a bit more prosperous, provided they are in work." So do we.

Back on track

It seems that Business Diary has readers in the corridors of power.

Following our story last week about the interminable delays on reinstating the pavements around the mothballed Lumiere site, in central Leeds, some progress appears to have been made.

Businesses nearby who may have suffered from the lack of passing trade, will breathe a sigh of relief. But why did they have to wait for
so long?

Perhaps our readers at Leeds City Council could provide some answers...

Single-minded

A quirky survey suggests that the key to surviving the credit crunch could be to stay single.

Nearly half of Britain's single men admit that way to save money is to stay out of a relationship.

Research by Skipton Building Society asked more than 2,400 adults what effect being in a relationship had on their finances.

Nearly half – 47 per cent – of all single men surveyed said that they would spend more money than they currently do if they were to enter into a relationship.