Business leaders in Cornwall have backed plans for the region to secure maximum devolution powers available from talks with the Government.
Cornwall is among a first wave of areas that have been invited to bid for proposed sub-national devolution deals, announced by Prime Minister Boris Johnson in July 2021 as part of the Government’s ‘Levelling Up’ agenda.
The board of Cornwall and Isles of Scilly Local Enterprise Partnership (LEP) has unanimously agreed to support Cornwall Council in negotiating a ‘Tier 3’ County Deal.
The LEP said securing a ‘Tier 3’ deal would maximise decision-making and investment in Cornwall, with a long-term investment fund and greater control over existing funding streams.
Its directors also agreed at a meeting last Wednesday (March 30) to set up a private sector “Devolution Deal group”, to provide the business voice in ongoing discussions with local authorities and central Government.
Mark Duddridge, chair of the LEP, said: “In particular we want to ensure there is meaningful private sector input into the emerging Shared Prosperity Fund (SPF). We very much welcome moves towards Cornwall Council leading on the delivery of the SPF, which we hope will be quicker, clearer and more joined up than previous EU funds.
“This will be vital to attracting private investment and supporting emerging sectors such as geo-resources, renewable energy, space and data, and our bedrock sectors like tourism and agriculture.”
Mr Duddridge said Cornwall was poised to make a “significant contribution” to the UK economy and the transition to net zero carbon emissions, through the development of floating offshore wind energy and technology metal mining.
Both, he said, were a “huge environmental and economic opportunity” at a time of rising energy costs.
Mr Duddridge said: “With growing costs pressures facing many of our communities and industries, we hope a County Deal can help unlock investment to provide timely support and advice as quickly as possible.”
The LEP also called for any County Deal to include more freedoms to tackle the lack of affordable housing in Cornwall, which it said was having a “significant impact” on individuals, families and the ability of local businesses to recruit and retain staff.
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