Part of the debate – in the Senedd at 5:07 pm on 8 February 2017.
Diolch, Lywydd. I welcome this debate because I think there is a vacuum at the heart of Welsh Government economic strategy at the moment. Unfortunately, and the reason why our amendment is a ‘delete all’ amendment, the motion doesn’t seek to fill that vacuum with anything that is distinctive or new, but seeks to borrow the UK Government policy and apply it to Wales.
Now, we are in a position where we have an economic strategy going back to 2010. Effectively, that strategy was ripped up in 2011. The basic, key changes that were in that strategy, which were having a much more tightly focused sectoral approach to economic development, well, that went when three additional sectors and virtually every business in Wales outside of retail became a target sector. And, also, the move away from the old approach, which is, basically, the kind of grant-aid, inward-investment focused strategy—moving from that to one that was focused more on business investment based on equity or loans—that was ripped up as well and it was a reversion to type. What we have now is not a strategy but a lot of activity, but without actually a coherent economic strategy to back it up.
The same is true about our regional economic development position. We have still, in theory, a spatial plan, which was first published in 2006. We learnt—[Interruption.] Well, the leader of the Welsh Conservatives may laugh, but most economists would say that, actually, place making, having a spatial economic strategy, is absolutely critical. I give way to him.