Cornwall is in line for a wave of investment and reform as the government sets out plans to grow the region’s economy, support small businesses and create jobs linked to clean energy and advanced manufacturing.
During a recent visit, Chancellor Rachel Reeves confirmed a £28.6 million investment from the National Wealth Fund to support the reopening of the South Crofty tin mine near Redruth. The project is expected to create over 300 direct jobs and support around 1,000 more through local supply chains, including electricians, metal fabricators and other trades.
Tin is seen as a critical mineral for transitioning to clean energy. It’s used in electronics, electric vehicles and renewable infrastructure.
Support for Cornwall’s Small Businesses and Hospitality
Alongside major investments, the Chancellor discussed proposals aimed at cutting red tape for small businesses, particularly in hospitality. Under the plans:
- Licensing rules would be relaxed to make it easier for pubs to serve their customers outside and for longer.
- Outdated requirements to advertise licensing applications in locally printed press would be scrapped.
- Ensuring councils are more lenient when considering licensing applications.
A consultation on these and other proposals will be launched later this year and comes ahead of the publication of the government’s Small Business Plan.
Green Manufacturing Growth
The Chancellor also met with Kensa, a Cornish manufacturer of ground source heat pumps. The company plans to expand its workforce from 200 to 450 by 2030 and significantly increase production to support the UK’s shift to cleaner heating.
A Renewed Focus on Cornwall
While on her trip, the Chancellor said that the investment to revive Cornwall’s tin mining industry is one way of renewing the county. She concluded by saying: “There is more to come in our Plan for Change.”
See: https://www.gov.uk/government/news/chancellor-pledges-to-unlock-growth-in-cornwall