Shared Prosperity Fund

Steve Double Excerpts

Tuesday 14th May 2019 Westminster Hall

[Steve Double (St Austell and Newquay) (Con)]

I congratulate the hon. Member for Barnsley Central (Dan Jarvis) on securing this debate. I agreed with many of the points that he made in his very good opening speech.

I represent a Cornish constituency. It is well known—it has already been mentioned in this debate—that Cornwall has been one of the biggest recipients of European economic support funding. Yet as the Minister pointed out, Cornwall voted by a fairly substantial majority to leave the EU. There are reasons for that. It is largely because of the way in which European regional development funding has been spent in Cornwall, and there is a view that much of it has been wasted. During the past 20 years, Cornwall has received almost £1 billion of European funding, yet it has not achieved anywhere near what it was set up to achieve. In 2000, when the programme began, Cornish GDP was at 75% of the European average. The latest assessment is that we are at 68% of the European average, so despite three rounds of ERDF funding and almost £1 billion, we have fallen behind the rest of Europe.

There are good reasons for that: the European programmes are over-bureaucratic and difficult to access. In fact, the people in Cornwall who are most upset that we are leaving the EU are the consultants who have made a small fortune out of advising Cornish businesses on how to apply for European grants. They are the most upset people because their gravy train is coming to an end. Also, the programme has been far too prescriptive. We have been part of a centralised European programme that has not allowed people in Cornwall—the businesses and the local authority—to invest the money in the things that Cornwall really needs.

The shared prosperity fund is a brilliant opportunity for us to get it right. We can have a programme that is much more fit for purpose, less expensive to run, less bureaucratic and far more easily accessible to the businesses that need to access it in Cornwall. As many Members have said this afternoon, we have to grasp the opportunity to get a programme that is fit for purpose and delivers investment into our most deprived areas and really does the job.

Some things are absolutely essential, as other Members have mentioned. Whatever fund is put in place has to be locally administered, because local people know better what local areas need. It has to be more easily accessible and less bureaucratic, and there has to be a single dedicated pot for places such as Cornwall so that we are not put in a position where we have to be competitive and therefore miss out. I urge the Minister to do all that he can to ensure that the consultation is brought forward as soon as possible.