Sunday, 13 December 2015

Cornwall has the lowest economic performance of any nation in UK

The Office of National Statistics (ONS) has just released the latest GVA (gross value added) figures, which record economic performance across the UK.

For those who want a better understanding of GVA, it is the “measure of the growth of national income. It is measured by adding up the income generated by individuals and businesses in the production of goods and services, including the effects of inflation, but excluding taxes such as VAT.”

These latest figures are for the year 2014 and show that Cornwall has the lowest economic performance of any nation in the United Kingdom.

In 2014, England had a GVA per head of £25,367, which was 103.1% of the UK average, followed by Scotland with a GVA of £23,102 (93.9%). Doing less well were Northern Ireland and Wales, with GVA figures of £18,682 (75.9%) and £17,573 (71.4%) respectively.

By comparison, the figure for Cornwall (including the Isles of Scilly) was only £17,278, which was 70.2% of the UK average.

Cornwall & the Isles of Scilly is also one of forty “NUTS2 sub-regions,” and it is the 38th worst-performing, only doing better than the Tees Valley & Durham and West Wales & the Valleys.

Also, very worryingly, the latest ONS bulletin stated: “GVA per head increased in 39 of the 40 NUTS2 sub-regions … the only sub-region not to increase was Cornwall & the Isles of Scilly, where GVA per head decreased by 0.1%.”

Figures from the ONS also show that the United Kingdom has the greatest regional disparity of any country in the European Union, with the GVA in the Inner London (West) NUTS2 sub-region recorded at £123,406 per head – seven times that of Cornwall.

It is my view that these statistics show that Cornwall has been failed by the economic policy, and investment priorities, of the Westminster Government, which has repeatedly failed to address the massive economic inequalities between the regions and nations of the UK.

These GVA figures should unite people of all political persuasions to put real pressure on central government to agree an Economic Fairness Act to ensure Cornwall gets it fair share of government investment.

[This will be my article in this week’s Cornish Guardian.]

1 comment:

Edwina Cousins said...

Greater part of the problem being that we are an area of retirement, therefore not creating any productivity except with the undertaking business and then there are those who come down without work and are an extra strain on our resources and housing etc. We are not an area that is invested in, only in encouraging the huge masses in the summer which clogg up our roads, hospitals and pollute the beaches and atmosphere. This does not create a living and often is money taken out of Cornwall by absentee landlords or supermarket chains. it is not a sustainable means of living.