Page 59 - Minutes of meeting
P. 59
External Influences
The Barrow economy is affected by a range of external
influences including:
▪ Government policy decisions, particularly in relation to
defence, energy and health, and UK policy decisions
related to Brexit
▪ Environmental factors. Climate change will have
important economic effects. The impact of flooding in
particular is a key issue in many parts of Cumbria.
▪ Brexit. The sectors with the highest exposure to Brexit in
Cumbria include tourism, agriculture, and of key relevance
to Barrow a variety of export focused manufacturing
sectors.
The impact of unknown influences is particularly pertinent in light of the current pandemic. Whilst resources are diverted away
from more productive uses (in terms of economic output) and towards essential measures to combat the virus, GDP and
productivity could be directly affected, whilst drafting and agreeing a trade deal with the EU is deprioritised.
Copyright © Hatch 2018. All Rights Reserved.
