A NEW academic report has warned of 'major economic problems' for Pendle after Brexit.

The study by the London School of Economics identifies lack of investment financing and skills as key difficulties for the borough which voted decisively to leave the European Union in the 2016 referendum.

It was officially launched on Tuesday at a public seminar at the Ace Centre in Nelson.

During the discussion Pendle peer Lord Tony Greaves, Nelson and Colne college vice-principal Alison Rushton, Training 2000 chief executive Steve Whitehead and LSE's Professor Mary Kaldor expressed concern about its impact on public sector investment in industry, transport, and skills training.

The study says: "This report has shown that the major economic problems facing Pendle are a lack of financing and skills shortages.

"These are longstanding problems that contribute to our understanding of why people voted for Brexit.

" Unfortunately for Pendle, it seems that in the short term Brexit is more likely to exacerbate than solve these problems."

Professor Kaldor said: "Pendle has received significant amounts of EU funding. There will be problems over whether the UK government will replicate that, how long it will take to do it and whether the regulations will be different."

Ms Rushton said: "The core funding for colleges like ours in Lancashire is heavily dependent on the EU and we do not know what will happen."

Mr Whitehead identified skills training funding for qualifications such as HNC and HNDs as a key area needing investment.

He said: "I think the initial effects of Brexit on Pendle will be poor but local industry is resilient and will recover."

Lord Greaves expressed concern about he impact of the loss of EU cash for education, skills, transport and industrial investment, adding: "The problem is that we just do not know what sort of Brexit we are going to get."

He admitted that Labour and his own Liberal Democrat party had failed to campaign enough for Remain in the referendum.

The report can be view at: http://eprints.lse.ac.uk/90324/1/Kaldor_Brexit_Report_Pendle_2018.pdf.

The LSE would welcome comments on it.

The link to the project site is: http://www.lse.ac.uk/international-development/conflict-and-civil-society/current-projects/debating-brexit-at-a-local-level