Posted: Mon 18th Oct 2021

Economy Minister pledges to offer ‘as much certainty as possible’ for businesses in Wales facing a volatile recovery

News and Info from Deeside, Flintshire, North Wales
This article is old - Published: Monday, Oct 18th, 2021

Vaughan Gething will set out his vision for the Welsh economy and will commit to extending a ‘Team Wales’ model to offer certainty to businesses facing a volatile recovery.

The Welsh Government will pursue a progressive economic policy that focusses on better jobs, narrowing the skills divide and tackling poverty, Economy Minister, Vaughan Gething, will say today.

At a hybrid Economic Summit, the Minister has invited businesses, trades unions and local government leaders to discuss how Wales can create a stronger, fairer, greener economic future.

In setting out his vision to move the Welsh economy forward, the Minister will commit to extending a Team Wales model to offer ‘as much certainty as possible’ for businesses facing a volatile recovery.

He will promise a new era of partnership to strengthen regional economic development, a delivery plan to back the everyday economy and wide ranging support for workers in a fast changing economy.

The Welsh Government will work with unions and business to develop it’s ‘something for something’ approach so that Welsh public money is wedded to action on fair work, decarbonisation and skills.

The Minister will also start a conversation about the long term demographic challenge facing the Welsh economy.

The proportion of the population aged 16 to 64 years old in Wales has been decreasing year-on-year since mid-2008, and could be just 58% of the population by 2043.

In response, Welsh Ministers’ approach will be geared towards creating an economy where more young people feel confident about planning their future in Wales thus supporting job creation and more dynamic local economies.

The Welsh Government will set out a vision of what makes Wales an attractive place to live, study, work and invest, including the quality of life in an inclusive, open and green nation.

The Welsh Government will also call on the Chancellor to demonstrate the UK Government’s ambition for Wales by honouring promises made on EU successor funds, backing major renewables such as tidal energy and investing in Welsh research and development.

Speaking ahead of the summit, Economy Minister, Vaughan Gething said:

‘The Welsh Government is taking bold action to build a stronger, fairer, greener Welsh economy.”

“It has taken a Team Wales effort to keep Wales safe and we will deliver a Team Wales Recovery, built by all of us.”

“A strong Welsh recovery will be based on the principles of fair work and sustainability as we invest in the industries and services of the future.”

“As we face the headwinds of Brexit, I am determined that our credible plans will offer as much certainty as possible to help businesses plan ahead.”

“A new era of partnership for stronger regions, a young person’s guarantee, a plan to back our everyday economy and collaboration with world leading, advanced manufacturing. This is the cause for optimism for the future we are building in Wales.”

“My ambition is to make Wales a place where more young people feel confident in planning their future here. You don’t have to get out to get on, make your future here in Wales.”

 

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