► Subscribe to the Financial Times on YouTube: http://bit.ly/FTimeSubs<br /><br />Newcastle upon Tyne's city council is undergoing a 3-year programme to cut more than £100m from its spending, with the loss of 1200 jobs. Chris Tighe, northeast correspondent, reports on a city where – in the words of one local charity worker – 'life is one long recession'.<br /><br />For more video content from the Financial Times, visit http://www.FT.com/video<br /><br />Subscribe to the Financial Times on YouTube; http://goo.gl/vUQx5k<br />Twitter https://twitter.com/ftvideo<br />Facebook https://www.facebook.com/financialtimes
