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Clancy warns of ‘tricky economic waters’ as West Midlands swings behind Brexit

Clancy warns of ‘tricky economic waters’ as West Midlands swings behind Brexit

🕔24.Jun 2016

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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