The latest figures which were released at the end of last
week show the level of government support through the COVID-19 pandemic for
businesses and jobs in our constituency. The economic shock has impacted just
about every part of our local economy and as we begin the long road to
recovery, it is good to reflect on the support so far that has protected
thousands of jobs and hundreds of businesses.
Treasury figures show that 17,600 employees have been
furloughed with the government funding 80% of workers’ wages – estimated at a
total of around £145milllion from March – August.
5,700 self-employed people have received the self-employed
income support scheme which has put over £16million into the bank accounts of
local people.
Almost 1,900 businesses in St Austell and Newquay have
received government backed loans through the Coronavirus Business Interruption
Loan Scheme or Bounce Back Loans totalling almost £50million. Three thousand
six hundred businesses have received grants and further 1,200 are having their
businesses rates bills cancelled until April next year.
This is an unprecedented intervention by the government to
support businesses and project jobs and our constituency has received one of
the highest levels of support of any across the country.
This is all on top of the specific measures taken to support
the tourism and hospitality sector, which our constituency relies on more
heavily than any in the country through the VAT cut and Eat Out to Help Out
Scheme.
Whilst I am very much aware that there will be those
individuals and businesses who will have fallen through the gaps and not able
to access the various support schemes, there is no doubt that we would be
facing a much bigger challenge locally if these schemes had not been in place. The
Chancellor has always been open and honest that we will not be able to save
every job or protect every business. I continue to make representations to
government ministers for further support both for those who have so far not
received any support and also for our vital hospitality businesses who will
face further challenges as the season ends.
Sadly, there will be those who lose their jobs and
businesses who will not survive this crisis. The government is already taking
steps to invest in job creation and training to ensure any recession and
increase in unemployment is as short as possible.
It is important we make the most of what is left of this
season. I do understand the concerns some people have of the risk of welcoming
tourists to Cornwall at this time. However, all the evidence to date shows that
there has been very little impact on the level of cases of Coronavirus in
Cornwall since tourists were allowed to come. Last week saw a reported 9 new
cases in Cornwall – among the lowest of any week so far – and this is with
increased levels of testing available. There have been no new cases of people
falling seriously ill and requiring hospital care. Whilst there is no room for
complacency and we must all continue to keep to the restrictions and guidance,
we can take some confidence from the fact that to date the increase in cases
some feared is not materialising.
Whilst there have been a few notable spikes in a few parts
of the country, the overall trend nationally continues to show the downward
trend in the number of cases.
Our traditional sectors of tourism, hospitality and food
production will always be the bedrock of our Cornish economy. These are our
strengths and we should continue to make the most of them. But one things the
events of recent months have highlighted again is the need to reduce our
reliance on these sectors, which can level our economy vulnerable, and invest
in other new sectors that will create jobs and attract inward investment.
Last week we received more good news in the confirmation
that the government will be investing in a number of ‘shovel-ready’ projects in
Cornwall that will go some way to achieving this. Funding was announced that
includes support for projects in the space industry in Cornwall and lithium
extraction as part of an overall £14million package. Possibly more than any
other opportunities these two areas have the potential to change the profile of
our local economy and create some exciting career opportunities for local
people.
So whilst I will always champion our amazing tourism and
hospitality businesses and promote Cornwall as a great place to come on
holiday, I will also continue to work to attracted the investment and
government support we need to see in these other great opportunities for our
county.
