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Encyclopedia > Economy of Cornwall

Cornwall is a county in South West England, and one of the poorest areas of the United Kingdom. Its economy is largely dependent on tourism. Cornwall (pronounced ; Cornish: ) is a county in south-west England, United Kingdom, on the peninsula that lies to the west of the River Tamar and Devon. ... South West England is one of the regions of England. ...

Contents

Statistics

This is a chart of trend of regional gross value added of Cornwall and Isles of Scilly at current basic prices published (pp.240-253) by Office for National Statistics with figures in millions of British Pounds Sterling.

Year Regional Gross Value Added[1] Agriculture[2] Industry[3] Services[4]
1995 3,230 235 813 2,182
2000 4,245 198 1,021 3,027
2003 5,401 221 1,195 3,985

Cornwall is one of the poorest areas in the United Kingdom. The GDP is 62% of the national average.[5] Cornwall is one of four UK areas that qualifies for poverty-related grants from the EU (European Social Fund). Today, the Cornish economy depends heavily on its successful tourist industry, which makes up around a quarter of the Cornish economy.


The official measures of deprivation and poverty at district and 'sub-ward' level in Cornwall show that there are large differences in poverty and prosperity in different parts of Cornwall and that though some parts are among the poorest in England, others are among the top half in prosperity. For example, the ranking of 32 482 sub-wards in England in the index of multiple deprivation ranges from 819th (part of Penzance East) to 26 584th (part of Probus), where the lower number represents the most deprivation. See also Poverty and deprivation in Cornwall (June 2006)and Poverty and neighbourhood renewal in west Cornwall (January 2002)


Traditional areas such as china clay extraction have gradually shed workers in recent years. Kaolin Kaolinite (Aluminium Silicate Hydroxide) Kaolinite is a mineral with the chemical composition Al2Si2O5(OH)4. ...


Objective One funding in Cornwall

Cornwall didn't originally qualify for Objective One European funding until 1999 as previously the Government had statistically incorporated it with Devon in a process known as "Devonwall". In 1998 Cornwall was recognized by the UK Government as having distinct cultural and historical factors reflecting a Celtic background[6], thus allowing it to be separated in a regional and economic sense from Devon. This fact underlines the importance of Celticity to Cornwall in recent years. Objective 1 regions are officially designated NUTS level 2 regions within the European Union where per capita GDP is less than 75% of that of the wider union; they also include certain very low population areas in Sweden and Finland and some outlying (i. ... “Devonshire” redirects here. ...


Because Cornwall had less than 75% of the average European GDP, £350 million of Objective One funding was received between 2000 and 2006. Despite claims of lax administration by the Government Office of the South West many beneficial things came of it including the Combined Universities Campus at Tremough. It has been fundamental to supporting and developing a largely indigenous food and farming industry which is now worth nearly two billion pounds a year - a lot more than tourism. Other sectors have also benefited are the 'creative industries' which have mushroomed with publicity and investment. Likewise tourism has profited and broadband provision was made a priority although there have been some complaints of fund mismanagement in cases such as the £2 million funding towards the failed South West Film Studios at St Agnes.[7] Map sources for Tremough at grid reference SW775345 Tremough is a suburb of Falmouth in Cornwall, England. ... The South West Film Studios were built in 2002 at St Agnes in Cornwall and soon become known locally as Aggiewood. Costing £5. ... St Agnes may refer to: Saint Agnes St Agnes, Isles of Scilly St Agnes, Cornwall Saint_Agnes_of_Bohemia (aka Sv. ...


In 2005, Cornwall was estimated to have a GDP of 70% of the European average and although the then chancellor Gordon Brown was reluctant to facilitate it, Cornwall qualified once again for Objective One, the largest type of European investment.[8] The next 'tranche' is called Convergence funding and will last between the beginning of 2008 to 2013 and will be worth £445 million. There have been many complaints from Cornish people that once again this investment will be managed from outside Cornwall, by the South West Regional Development Agency (SWRDA), in Exeter and Bristol and Objective One administrative jobs should in fact be based in Cornwall. Priorities for the 2008-13 tranche will have a different emphasis on information and communication technologies, competitiveness, enterprise and a providing a skilled workforce. For other people with the same name, see Gordon Brown (disambiguation). ... The Cornish people are a British ethnic group originating in Cornwall. ...


Tourism

Cornwall's unique culture, spectacular landscape and mild climate make it a popular tourist destination eloquently portrayed in [1], despite being somewhat distant from the United Kingdom's main tourist centres. Surrounded on three sides by the English Channel and Celtic Sea, Cornwall has miles of beaches and cliffs. Other tourist attractions include moorland, country gardens and wooded valleys, and tourism is a significant economic sector. Satellite view of the English Channel The English Channel (French: (IPA: ), the sleeve) is the part of the Atlantic Ocean that separates the island of Great Britain from northern France and joins the North Sea to the Atlantic. ... Map of the Celtic Sea, an arm of the Atlantic. ...


Five million tourists visit Cornwall each year, mostly drawn from within the UK.[9] In particular, Newquay is a popular destination for surfers. In recent years, the Eden Project near St Austell has been a major financial success, drawing one in eight of Cornwall's visitors.[10] The town should not be confused with New Quay in Wales. ... The Eden Project Inside the tropical Biome The Eden Project is a large-scale environmental complex near St Austell, Cornwall, England, United Kingdom. ... This article or section is not written in the formal tone expected of an encyclopedia article. ...


Industry

Other industries are fishing, although this has been significantly damaged by EU fishing policies, (the Southwest Handline Fisherman's Association has started to revive the fishing industry)[11], and agriculture, which has also declined significantly.


Mining of tin and copper was also an industry, but today no longer exists, and several defunct mines applied for status as UNESCO World Heritage Sites.[12]However, the Camborne School of Mines is still a world centre of excellence in its field.[13] UNESCO logo UNESCO (United Nations Educational, Scientific and Cultural Organization) is a specialized agency of the United Nations established in 1945. ...


World Heritage Status was granted to the Cornwall and West Devon Mining area on 14 July 2006. This will allow Cornwall County Council the opportunity to expand its Mineral Tramways Project of walking trails along with re-instatement of engine houses and other places of mining interest. Completion of this network is expected some time in 2008. [2] is the 195th day of the year (196th in leap years) in the Gregorian calendar. ... For the Manfred Mann album, see 2006 (album). ...


Creative industries

In recent years Cornwall's creative industries have undergone significant growth, thanks in part to Objective One funding. There is now a significant creative industry in Cornwall, encompassing areas like graphic design, product design, web design, packaging design, environmental design, architecture, photography, art and crafts. Objective 1 regions are officially designated NUTS level 2 regions within the European Union where per capita GDP is less than 75% of that of the wider union; they also include certain very low population areas in Sweden and Finland and some outlying (i. ...


Taxation

In the October 2001 Business Age Magazine Kevin Cahill, an author and investigative journalist for the Sunday Times, wrote about the economy of Cornwall. In The Killing of Cornwall, he notes that the London Treasury extracts £1.95 billion in taxes out of Cornwall's GDP of £3.6 billion. The Treasury returns less than £1.65 billion, so there is a net loss to Cornwall of 300 million pounds, where the total earnings figure is 24% below the national average. Cornwall is getting poorer by the day, and Cahill offers this explanation: One very simple and easily provable answer is because the Government in London is raping Cornwall fiscally. The fiscal deficit of over £300 million all but completely explains the increasing pace of impoverishment in Cornwall. Cahill concludes his Business Age article with the lament that Cornwall will not recover until the gap between the tax take and the exchequer give is at least neutralised and better still, reversed. Kevin Cahill represents District 101 in the New York State Assembly, which is comprised of large portions of Ulster County and both the Town and Village of Rhinebeck in Duchess County. ... The Sunday Times is the name of several Sunday newspapers. ... Cornwall (pronounced ; Cornish: ) is a county in south-west England, United Kingdom, on the peninsula that lies to the west of the River Tamar and Devon. ... This article is about the capital of England and the United Kingdom. ...


External links

References

  1. ^ Components may not sum to totals due to rounding
  2. ^ includes hunting and forestry
  3. ^ includes energy and construction
  4. ^ includes financial intermediation services indirectly measured
  5. ^ Peter Kingston, 2005. "Closed for Business". The Guardian, Tuesday May 10 2005.
  6. ^ Hansard 1998 - Cornwall has distinct cultural and historical factors reflecting a Celtic background
  7. ^ BBC news Jan 2005 - Cornish Euro regeneration cash 'wasted'
  8. ^ BBC news 2004 - EU cash to keep flowing
  9. ^ Cornwall Tourist Board, 2003. Tourism in Cornwall.
  10. ^ Scottish Executive, 2004. A literature review of the evidence base for culture, the arts and sport policy.
  11. ^ http://www.linecaught.org.uk/links.htm
  12. ^ UNESCO Page on the Cornwall & West Devon application
  13. ^ http://www.uec.ac.uk/csm/


 
 

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