7. Welsh Conservatives Debate: Regional Economic Inequality

Part of the debate – in the Senedd at 5:38 pm on 6 February 2019.

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Photo of Ken Skates Ken Skates Labour 5:38, 6 February 2019

Dirprwy Lywydd, that's precisely why I said that we're establishing the regional units and regional indicative budgets, to ensure that we have a different funding model to that which operates within the UK Government, which in turn ensures that we are able to more fairly invest in infrastructure across Wales. Let's face it: it's infrastructure and the provision of skills that drive economic growth. They're the two big factors. So, if you have a greater degree of fair funding across a country, you will have a greater degree of economic growth that is inclusive across a country. I think we are showing the world the way to go, and that's why we have invited the Organisation for Economic Co-operation and Development to assess the success of the economic action plan against our ambitions to drive inclusive growth.

It's worth saying that in a post-Brexit environment, of course, we expect Wales not to lose out to a penny in terms of the investment that we would expect, and that we wish to see decisions on economic development and investment made here in Wales. In 2017, we, of course, published the paper on regional investment in Wales after Brexit, and that paper calls for regional investment decisions to continue to be made in Wales, by Welsh Government, by local authorities, and through emerging regional structures.

Deputy Presiding Officer, I'm conscious of time. Can I just say that I think, generally, across the Chamber, Members have identified all of the key factors that drive economic growth? All of those key factors are encapsulated within the economic action plan, and I would invite those Members who have not yet read that particular strategy to do so with some urgency.