Clancy warns of ‘tricky economic waters’ as West Midlands swings behind Brexit
The British economy could be heading into “very tricky waters” following the vote to leave the European Union, Birmingham city council leader John Clancy has warned.
Cllr Clancy said he was talking urgently to potential investors to reassure them that Birmingham “continues to be a great place to invest”.
Earlier this week before the referendum Cllr Clancy told Chamberlain Files that companies potentially interested in setting up in Birmingham were delaying decisions because they feared Britain might quit the EU.
Today, following the 52%-48% referendum vote to leave the EU, Cllr Clancy said:
The people have spoken and we must listen to what they have said.
This is a moment of significant change and the UK could be heading into very tricky economic waters but what will not change is my determination to bring investment and economic growth to Birmingham.
In fact I’m already talking to potential investors and reassuring them that our city continues to be a great place to invest.
The economic history of the West Midlands is based on manufacturing and we now need to move towards investment in advanced manufacturing. We have to find new ways of bringing capital into the region to invest and my message to the Government is that it’s time to invest in growth.
The Government must now look to the UK’s cities, regions and nations for economic growth and continued austerity is not an option.
A breakdown of voting figures shows that the West Midlands region voted by 1,755,687 to 1,207,175 to leave Europe.
Voting figures for councils were as follows:
Birmingham total votes 451,316 Remain 223,451 Leave 227,251
Coventry 153,234 67,967 85,097
Dudley 175,333 56,780 118,446
Sandwell 147,418 49,004 98,250
Solihull 122,017 53,466 68,484
Walsall 135,685 43,572 92,007
Wolverhampton 118,037 44,138 73,798
North Warwickshire 37,975 12,569 25,385
Nuneaton & Bedworth 69,876 23,736 46,095
Rugby 58,593 25,350 33,199
Stratford on Avon 79,217 38,341 40,817
Warwick 81,695 47,976 33,642
Bromsgrove 58,855 26,252 32,563
Malvern Hills 48,538 23,203 25,294
Redditch 45,913 17,303 28,579
Worcester 54,289 25,125 29,114
Wychavon 76,425 32,188 44,201
Wyre Forest 57,666 21,249 36,392
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