3. Statement by the Cabinet Secretary for Economy and Transport: The Economic Action Plan

Part of the debate – in the Senedd at 3:20 pm on 12 December 2017.

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Photo of Ken Skates Ken Skates Labour 3:20, 12 December 2017

I'd like to thank the Member for welcoming the economic action plan, and for giving it his party's best wishes. The Member raises some important points about education, and the role that education and skills training has in developing a modern and secure economy.

I think, also, the Member touched on—. I think it's worth, actually, my reflecting on the point that was made about appropriate regulation. There is a Welsh Ministers' business service that currently exists, but we will be looking at strengthening that service, working with the council for economic development and the new ministerial advisory board in shaping regulation that is appropriate—regulations that are fit for purpose, of course minimal regulation, but also regulation that protects people as well as ensuring that businesses are as competitive as they can possibly be. And I would say that whilst employment numbers within the public sector have indeed reduced in recent times, the public sector still offers £6 billion of procurement opportunities for the private sector, and it's essential that Welsh-based companies are able to take full advantage of those opportunities.

In terms of growth potential, well, that's going to be part of the economic contract: if you you're going to get to base camp, you're going to have to prove that you have growth potential. And then, as part of the climb to the summit, we will offer, through the calls to action, an opportunity to draw down Welsh Government funding and support if you are willing to headquarter in Wales, because I think every person in this Chamber would recognise the need to have more HQs in our country.