By Matthew Legg

Last updated at 12:33, Friday, 30 July 2010

Only 28 per cent of the cash spent on nuclear activities in Cumbria stays in the county, according to a leading councillor.

Tim Knowles, portfolio holder for the economy on Cumbria County Council, said the county must do better.

Mr Knowles was speaking at the Keeping the Nuclear Pound in Cumbria event at Burnetts Solicitors energy coast office.

He told delegates that just £183 million of the nuclear spend in Cumbria was retained in the county in 2007/08.

Business services and design were the areas most likely to bought from outside the county, he added.

“There is no doubt that the area, more than ever before, will depend on nuclear and other energy activities so we need to focus on what an asset Sellafield is,” he said.

“In terms of retention of current nuclear spend we could and should do better, but the public sector money which used to underpin economic development is not going to be there any more.

“The private sector will need to work together to develop consortia which can deliver the products and services the energy sector needs.”

The event was the brainchild of Burnetts’ head of corporate law John Noctor.

Mr Noctor, a west Cumbrian, said he believed it was crucial that the economic benefits of the Energy Coast are enjoyed by local businesses.

“There is reportedly £2 billion worth of regeneration investment being made in west Cumbria,” he said. “That’s great news, but as a businessman I want to know how I can attract that money into my business and keep it in Cumbria to create local jobs and develop local skills.

“If we could get another 10 per cent on top of the 28 per cent we have now, it would transform the local economy.”

First published at 11:27, Friday, 30 July 2010
Published by http://www.newsandstar.co.uk