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Remember when teachers and nurses crashed the stock market, wiped out banks, took billions in bonuses and paid no tax? No, me neither.

A little bit of socialism in action

During June, Middlesbrough has three major cultural events – the WorldFest world music concerts, the Middlesbrough Literary Festival which lasts until 24 June, and the Intro music festival. Many thousands of Middlesbrough and Teesside people will take part and enjoy these great experiences.

What such events demonstrate is that Middlesbrough is more than just a collection of individuals, houses, factories, shops and offices. It has a cultural and intellectual heart as well as being a commercial and employment centre. By supporting and encouraging the creative lives of its people, the town is showing that it is 'a city in all but name' – regardless of the outcome of the city bid. And it is showing that it is a truly progressive place, looking to the future, opening up avenues for local people not just to enjoy themselves but to develop and grow as human beings.

What is also apparent is that, notwithstanding the important contributions of our private sector and voluntary partners, none of these festivals would have been possible without the leading role of the public sector. The council has a vital role in delivering important and essential services – but it also has this educative, constructive and stimulating role in opening up opportunities for our citizens that might not otherwise be available. No one else can or will do this.

Festivals are inherently collective experiences, and it is appropriate that our three cultural festivals are being organised by the body that represents the collective identity of Middlesbrough – a little bit of socialism in action.