Plea to think of needy during economic crisis

That's according to Jonathan Riley, managing partner of the Leeds office of accountants Grant Thornton, which is supporting the Yorkshire Post Communities in Need appeal.

"Christmas is a time to reflect and consider how fortunate we are sitting around with family and friends, although we are going through a massive economic revolution and that impact is only just beginning to be felt," said Mr Riley.

"It's absolutely right we do something to help those who are less fortunate than us. And maybe there's an opportunity here for people to look at things from a different perspective."

In an interview with the Yorkshire Post, Mr Riley, a former advisor to the DTI, spoke about the big questions facing Yorkshire, the UK and the Western world.

"I'd say the last two years – in terms of economic impact – have been seismic.

"We have gone from an environment where money was cheap, that individuals and corporates' expectations were very positive, one might almost say rose tinted, and many, especially our then political leaders, thought that 'bust' had been consigned to the historical dustbin.

"We have realised, and painfully, that bubbles do burst. And while we can try and point to where the problems emerged and try and point the blame finger at certain groups, we are all, generally speaking, to blame, since most enjoyed the benefits of the global growth we saw over the preceding decade.

"I believe that there is a greater realisation of the cost – the true cost – of capital; that industry and endeavour generate profit, which in turns allows for investment in people, products or service – and innovation; that we cannot rely on inflation through constrained supply or bubbles of increased demand – China, India – to sustain us."

In the future, he expects that while growth might be more modest, it might also be more sustainable.

Mr Riley said: "I actually am incredibly positive about the future. For Yorkshire, because of the character of the people here and the fact that we actually already have many, many successful businesses – we must look after these and encourage their best practice to be shared by others.

"I would also suggest that we have even more scope to encourage more to take control of their own working lives and think about setting up on their own.

"From a UK perspective, the measures introduced by the new Government, though very tough on many, are the right medicine for these times. And like personal debt – or diets – the pain is best taken quickly.

"The key thing is not to panic and change tack if things don't improve reasonably quickly. Politicians are short termist by their nature. For a change, they need to take a very long-term view, in the national not personal interest. That might be the toughest thing to do of all."

In the meantime, he said Yorkshire businesses should consider the needs of those who are in genuine need in the region.

"Around you all the time there are people who just need a bit of help. It's about recognising that society is broader than your own four walls," he said.

The Communities in Need appeal calls on readers and local businesses to pledge money towards a regional fighting-fund which will help small-scale community schemes battling poverty around Yorkshire.

The campaign is being run with the Yorkshire Community Foundations, a network of charities which distribute funds to small-scale projects throughout the region.

Prime Minister David Cameron has lent the Government's support to the campaign and has offered to match-fund public donations 1 for 1 where applicable.

Firms helping to raise the cash

Donations have been pouring in from businesses across the region to support the Yorkshire Post's Communities in Need appeal.

Firms are being encouraged to do their bit for their local community by making direct donations to the appeal or by holding special fundraising events in the run-up to Christmas.

A number of companies have raised significant amounts of money already by sending clients and customers an electronic Christmas card this year, and then donating the money saved on paper and postage to the appeal.

Others are holding events such as dress-down Fridays, homemade cake or Christmas decoration sales, raffles, quizzes and even X Factor-style carol-singing contests.