Kevin Cahill (author) - Business Age Magazine, 2001

Business Age Magazine, 2001

In the October 2001 Business Age Magazine (p18), Kevin Cahill wrote about the economy of Cornwall. In "The Killing of Cornwall", he notes that HM Treasury in London extracts £1.95 billion in taxes out of Cornwall's GDP of £3.6 billion. The Treasury returns less than £1.65 billion, so there is a net loss to Cornwall of 300 million pounds, where the total earnings figure is 24% below the national average. Cornwall is getting poorer by the day, and Cahill offers this explanation: "One very simple and easily provable answer is because the Government in London is raping Cornwall fiscally. The fiscal deficit of over £300 million all but completely explains the increasing pace of impoverishment in Cornwall." Cahill concludes his Business Age article with the lament that Cornwall will not recover until the gap between the tax take and the exchequer give is at least neutralised and better still, reversed. The magazine ceased publication in 2002.