1. Will the First Minister make a statement on the Welsh Government's policy on economic development in south-east Wales? OAQ(5)0493(FM)

We plan to continue to support businesses in their growth, to invest in high-quality infrastructure and to improve economic development conditions.

First Minister, Newport has great economic potential, with its transport, geographical and industrial strengths. On the M4, main rail lines and coast, part of the capital city region, neighbouring Bristol, it is the hub of its wider regional economy. So, First Minister, will you agree with me that driving economic development in Newport will be a major factor in Wales achieving its great economic potential?

Yes, I do. We want to see Newport, like all parts of Wales, developed to its full potential. A lot of work is already under way, which will bring benefit to Newport, including the ongoing regeneration activity, the establishment of Innovation Point, and the proposals being taken forward with regard to the M4.

A report by the What Works Centre for Wellbeing published recently, identified four south-east local authorities as ranking among the highest for well-being inequality. These included Torfaen, Blaenau Gwent, Caerphilly and Merthyr Tydfil. The report makes clear that there are a number of contributory factors, of course, and a number of possible solutions, but we shouldn’t dismiss the indicators that were used, which included how worth while people feel about their day-to-day lives. Economic development is going to be central to addressing those very deep feelings in those communities. Will the First Minister commit to rejecting now a trickle-down approach to economic development, and instead put on record his commitment to a place-based approach so that any future economic plans he reveals for this country are centred on what really matters, which is people and their communities?

Yes. It’s certainly not the case that we accept trickle-down economics, far from it. We want to make sure that communities are connected—and that’s what the south Wales metro, for example, is about—and connected digitally as well, which is why we have Superfast Cymru, and to ensure that people have the skills that they need in order to improve their incomes and to get jobs in the future, and that is something as a Government that we’re very much focused on.

First Minister, research by Lloyds Bank shows that the number of new businesses starting up in Wales has dropped by more than a quarter over the last five years. The number of business start-ups fell by more than 27 per cent in Caerphilly, more than 23 per cent in Monmouth, and less than 9 per cent in Newport, and 8 per cent in Blaenau Gwent. That doesn’t show a good picture of start-up businesses in south-east Wales. What measures and incentives does the Welsh Government intend to introduce to create the economic conditions to encourage new businesses to start up in south-east Wales?

We have a record number of start-ups. We’re seeing more and more young people particularly getting involved in businesses and becoming very successful in business. It’s right to say that Brexit introduces an element of uncertainty, and these are uncertain times indeed for businesses. But, as a Government, we will continue, of course, to support start-ups and ensure that many of those businesses become SMEs and even larger in the future.