West ready to help kickstart UK growth

Councillor Adam Paynter, Deputy Leader and Portfolio holder for Resources at Cornwall Council, says investment is unlocking potential

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IF anyone was in any doubt about the contribution Cornwall can make to the UK’s growth ambitions, the recent Cornwall and Isles of Scilly Growth summit will have dispelled them.

It was also a testament to what targeted investment through Cornwall Council's Good Growth Programme using the UK Shared Prosperity Fund can unlock.

What came across to the 130 or so delegates who attended the summit at the Royal Cornwall Showground was the sheer momentum now powering Cornwall's contribution to the national economy.

We heard from local businesses and leaders - spanning critical minerals, renewable energy, defence, advanced manufacturing and creative industries - how Cornwall is strongly, and in some cases uniquely, positioned across a range of growth-driving sectors to help deliver the UK's modern industrial strategy.

‘The scale of opportunity was highlighted by Cornish Lithium's Mike King, who told delegates that its combined hard rock and geothermal lithium extraction projects could meet 20% of the UK’s total lithium carbonate demand (essential for batteries) by 2030.

Small wonder then that Cornish Lithium received the first-ever equity investment from the Government-backed National Wealth Fund. ‘They've also benefited from £1.28m of Good Growth investment, partnering with the council to explore joint geothermal/lithium resources.