1.  Efforts to address the gaps in growth rates between regions need also to address the gaps in growth rates within regions. They are part of the same issue.

  2.  Alignment of UK Government efforts with policies agreed and promoted by the EU Member States would serve to reinforce the ability of the European Structural Funds to accelerate growth rates in a more effective manner. National, regional and sub-regional investment priorities for economic regeneration should be compatible and mutually supporting. This would result in a more coherent set of actions that would enable local economies to adjust more readily than hitherto. It is vital that investment and regeneration strategies are developed and owned at a local level and supported through a partnership approach. In the case of Cornwall this is at County level.

  3.  Objective One policies have an important role to play in assisting the economic development areas of low GDP per head, such as Cornwall. A commitment by Government to match funding, including match funding by the RDAs, is vital to realising the benefits of the Objective One programmes.

  4.  Experience in the EU and elsewhere has demonstrated the importance of research and development activity in concentrating the efforts of Government and business in developing key economic sectors. This in turn seems to strongly influence the level of GDP in many regions. The infrastructure and intellectual capacity that are needed to generate sufficient critical mass to stimulate growth seem also to be fundamental. Efforts to bolster the ability of the Regions to develop intellectual capacity and associated infrastructure should feature more strongly if Regional disparities are to be reduced. The location of government and private sector R&D capabilities that require Government support should be steered more strongly to potential Regional Centres.

  5.  Good physical communications remains a necessary but not a sufficient condition for economic growth. Support for investment in public transport particularly rail, would seem vital over the next 30 years. The introduction of improved ICT to business, including Broadband access in peripheral areas, is an important factor in economic regeneration.

  6.  Disparities in prosperity and disposal income between regions have a severe impact upon the local housing market and the lack of affordable housing for local people. The huge gap in disposable incomes between the South East and far South West of England and the presence of a large number of second homes suggests that raising income for local investment from second homes should be promoted by Government and used by local authorities to provide affordable housing. This would help to redress the current imbalance between regions.