UK Shared Prosperity Fund — House of Commons, 2019-09-05
Topic: Macroeconomics
Sarah Louise Newton (Conservative, Centre-right): It is a huge privilege to stand in the House today. We have a special word in the Cornish language: hireth. There really is no direct translation into English, but it is about a feeling that comes from being Cornish. It derives from our inspirational natural environment and from our history and culture As someone whose family has lived and worked in my constituency for generations, it has been a huge privilege to represent my home town. [Interruption.] Mr Deputy Speaker, just before you leave the Chamber, let me say that you were in the Chair when I made my maiden speech. As the general election is just around the corner, this may well be my last speech in this House, and it will be a speech standing up for the people of Cornwall who sent me here. Thank you, Mr Deputy Speaker, for standing and listening to me say that There is no doubt in my mind that the funding that Cornwall has received via the European funds has been absolutely essential. Despite the many natural wonders of Cornwall, and the hugely talented, creative and resourceful people, the fact remains that we are still the poorest region in England. There is no doubt that a huge amount of progress is being made. In no small part, that is down to the funding that we have received via the European Union. Let me explain why Just before the summer recess, colleagues from across the House, including my Cornish colleagues and I, supported by 14 first tier local authorities, launched a report called "Britain’s Leading Edge", which demonstrates beyond doubt that the English regions that do not have a major city have been historically underfunded and that there is a bias in the system of the allocation of public money towards the English regions that do have cities. I am delighted that the Government have responded positively to the report and that we have seen some real progress in some of the funding formulae used to allocate funding, particularly in the NHS and the recent moves on the national funding formula for education. However, the models that the Treasury uses in the allocation of funds for transport and economic development are systematically biased against regional peripheral maritime regions such as Cornwall This is where the European funding that Cornwall has received comes in. It has enabled us to put that money on the table in our negotiations with the Treasury when we are securing vital investment for our infrastructure, such as roads, rail, superfast broadband and education. It is vital for future progress that anyone and everyone who represents Cornwall and the regions of the UK that do not have major cities ensures that there is dedicated funding to close those gaps and to make the progress we want Cornwall, like all these regions, has huge potential and capabilities that need to be unleashed. We want to play our full part in our nation. We do not want to be the poorest region. We certainly have the talent and the capability to deliver, particularly on some of the key challenges and opportunities our country faces. I think we can all agree that there is no greater challenge than facing up to climate change and environmental degradation, and our regions have the solutions; we produce the nation’s food as well as vast sources of renewable energy. We have talented people, great businesses and wonderful universities. With dedicated funding, we are more than able to meet the challenge of closing the gap. I know that the Government want to ensure that no one and no region in our country is left behind, and dedicated replacement funding for the EU funding will enable us to ensure that.