MS welcomes vision for future of Welsh economy

* Clwyd South MS Ken Skates.

Member of the Senedd for Clwyd South, Ken Skates, has welcomed the Minister for Economy’s vision for the future, which focuses on better jobs, narrowing the skills divide, and tackling poverty. 

At a hybrid Economic Summit, attended by businesses, trades unions and local government leaders, Welsh Labour’s Minister for Economy, Vaughan Gething, discussed how Wales can create a stronger, fairer, and greener economic future. 

The Minister committed to extending the ‘Team Wales’ model to offer ‘as much certainty as possible’ for businesses facing a volatile recovery.

He also promised 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.

He said the Welsh Labour Government will work with unions and businesses to develop its ‘something for something’ approach so that Welsh public money is wedded to action on fair work, decarbonisation, and skills.

Mr Gething  also started 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, the Minister said the approach taken by Welsh Labour’s Ministers will be geared towards creating an economy where more young people feel confident about planning their future in Wales, supporting job creation and more dynamic local economies. 

Welcoming the vision, Member of the Senedd for Clwyd South, Ken Skates MS, said:“Welsh Labour in Government is taking the bold action required to build a stronger, fairer, and greener Wales for us all. The last 18 months have been extremely difficult for us all, but by coming together we have kept Wales safe, and now the Welsh Labour Government wants to deliver a ‘Team Wales’ recovery, built by all of us.

“Our strong Welsh recovery will rightly be based on the principles of fair work and sustainability as the Welsh Government invests in the industries and services of the future. 

“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 is exactly the focus we need as we move forward.”