Cornwall stuffed, or is it?

[darmstadt]

Thought this might happen, Wales next...

The Government has decided to give Cornwall and the Isles of Scilly just £18 million in its latest round of local economy investment funding. But Cornwall is set to lose £60 million of annual funding from the EU – awarded to support the area’s weak economy – after Brexit. Shortly after the EU referendum – in which Cornwall voted for Brexit – the head of the Council called on the Government to replace the funding provided by the EU programme. But the Department for Communities and Local Government has given Cornwall and the Isles of Scilly Local Enterprise Partnership (LEP) just a fraction of the £127 million it sought

...
More than 56 per cent of people in Cornwall voted to leave the EU (the Isles of Scilly voted to Remain), with many believing the Leave campaigners who had promised that the Government would replace funding lost from the EU, said Mr Dwelly. Cornwall received around £500 million from the EU from 2013 to 2020, but nothing has been secured for after that.

...

“We used to get special funding because we’re such a poor region. Now we’re not going to. In my opinion, the promises made by Conservative MPs in Cornwall at the time of the referendum have, as predicted, come to nothing. “They said that there would be replacement funding from the central Government. They were either stupid or they were misleading.”

[NigelJK]

so they wanted to double what the EU was feeding them and they told they're getting just a 1/3. Wonder how much as a region they paid in?

[SueEllen]

I wonder if any MPs will lose their seats after this?

[scooterscot]

[drob1984]

Cornwall has been stuffed for a long time, at least from a work perspective. This isn't a recent development either and for years, many of us born and bred from down that way have had to move "up country" to find jobs that pay more than £12k a year.

All of the industries closed down - mining, heavy engineering (google Holman Brothers Cornwall), membership of the EU and the doomed CFP allowed France and Spain to dominate fisheries and introduce quotas. It completely destroyed the great fishing ports of Cornwall, which have now become "tourist hotspots".

In the 70's/early 80s the council blocked Cornwall from getting its own complete University (instead just has campuses of Universities in Devon) and recently, for the past 7 years the council have done whatever they can to block Cornwall having a first-class sports stadium for primary sporting events and business events.

The final nail in the common has been the great influx of rich South-East types with their fascist bmw/audi/mercedes cars and obsession with money and turning communities into glorified holiday-home compounds.

Once free of the EU, they need to bring back industry, fishing and mining, with the recent discovery of significant stocks of lithium in Cornwall - with some strategy and action it won't have to rely on subsidies and handouts anymore. Maybe then we can return home and have a "real job".

[PurpleGorilla]

South East types litter the whole of Wessex mate.

[SueEllen]

If Cornwall had a university and other large facilities then people from the SE wouldn't have turned the area into holiday compounds.

[LondonManc]

Cornwall has been stuffed for a long time, at least from a work perspective. This isn't a recent development either and for years, many of us born and bred from down that way have had to move "up country" to find jobs that pay more than £12k a year.

All of the industries closed down - mining, heavy engineering (google Holman Brothers Cornwall), membership of the EU and the doomed CFP allowed France and Spain to dominate fisheries and introduce quotas. It completely destroyed the great fishing ports of Cornwall, which have now become "tourist hotspots".

In the 70's/early 80s the council blocked Cornwall from getting its own complete University (instead just has campuses of Universities in Devon) and recently, for the past 7 years the council have done whatever they can to block Cornwall having a first-class sports stadium for primary sporting events and business events.

The final nail in the common has been the great influx of rich South-East types with their fascist bmw/audi/mercedes cars and obsession with money and turning communities into glorified holiday-home compounds.

Once free of the EU, they need to bring back industry, fishing and mining, with the recent discovery of significant stocks of lithium in Cornwall - with some strategy and action it won't have to rely on subsidies and handouts anymore. Maybe then we can return home and have a "real job".

Tin is meant to be viable again - they are looking at reopening one of the mines in the Redruth area I believe.

Fishing will make a big difference if they can get Newlyn back up to what it was in its heyday and potentially more Brits holidaying at home; again, back 40 years ago there were far more hotels in towns like Newquay than there are now.

[motoukenin]

They probably read this report and thought Oh Cr@p!

Sales and Trading
Restrictions on EU-related activity from their existing UK hubs may lead banks to establish entities
within the EU. To retain the economies of scale these banks could move other activities that are not
directly restricted into the EU and away from the UK.

Market Infrastructure
If clearing portfolios are split or fragment across jurisdictions, this could lead to an increase in the
cost of clearing arising from a shrinking pool of participants in smaller segmented markets. Due to
these inefficiencies, some firms could move their clearing out of the UK.

Asset Management
As sales and trading businesses migrate from the UK into the EU, the benefits of managing
portfolios from the UK could be eroded, leading some companies to manage a greater portion of
their assets from within the EU.

Corporate and Specialty Insurance
A loss of depth in the marketplace due to the loss of EU-related activity might lead some insurance
firms to relocate outside of the UK.

In a low access scenario, the potential impact to the ecosystem could magnify the long-term impact
of the UK exiting the EU. We estimate a total of £32-38BN in revenues, 65-75,000 jobs, £18-22BN
in GVA and £8-10BN in tax receipts per annum are potentially at risk once ecosystem effects are
accounted for

[drob1984]

That's quite a small number if that's the projected figures of leaving the EU. Its quite an inward looking report as all it mentions is the EU, not the wider world. Huge opportunities for the UK to be a global player again and invest in developing nations, particularly those who need help around the world.

Tap into some of the 320 billion a year trade that Australia does with China and well, the UK will not be worried about 20-30 billion! Need a big focus on primary industries again, lets feed and produce foods and essential items that the growing middle-classes of these developing countries want. Like Poldark, if I had the money, I'd be opening a mine.

Its no wonder so many people in the South-West and old-industrial heartlands (north, wales) voted to leave.