Bid for £700m funding for Cornwall to replace EU cash

Council chief executive Kate Kennally said that a meeting is set to be held with local government minister Simon Clarke at the end of the month to discuss government financial support for Cornwall and the Isles of Scilly.

A major part of that is the call for the government to provide £700m to Cornwall over the next decade which would fill the gap left by the end of EU funding.

In addition the council is also continuing to look for details from the government about the Shared Prosperity Fund which is also expected to help compensate for the loss of EU funding.

Ms Kennally said that the secretary of state had said in a meeting with herself and council leader Julian German that the government was working on the details of the Shared Prosperity Fund.

She said that the bid for £700m was calling on Boris Johnson to fulfil his promise that Cornwall will not miss out on funding as a result of the UK leaving the European Union.

The chief executive was asked whether the amount of money being requested for Cornwall had changed in response to the current coronavirus crisis which has had a serious impact on the local economy.

Kate Kennally

She said: “The amount (£700m) is the same as what Cornwall Council has been calling for in terms of the equivalent of what Cornwall would have received from the EU and as the level of funds to catch up with other parts of the country as part of the levelling up agenda.

“We are calling for it as a single pot to prevent us having to continually bid for separate pots.

“We want to have the funding in a single pot that will be managed by organisations here in Cornwall.”

Ms Kennally said that the council had a good track record with working with other organisations in Cornwall in setting up projects that could benefit the Duchy.

She said that the bid was being made to the government and the council would be following it up at the end of the month.

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The chief executive said that the council was also looking to secure more local devolution which would assist in the green recovery which the council is looking to lead on.

A major plan – New Frontiers – was previously published by the council and Cornwall and Isles of Scilly Local Enterprise Partnership setting out how economic growth and development could happen by 2030.

It included the call for a single pot of funding to replace EU funding as well as the “asks” from the Government as part of devolution which would enable more local decision making and control over projects.

The document also sets out an approach to boost employment, training and business opportunities which would help the overall economy.