Motion NDM7055 as amended:

1. Notes the actions taken by the Welsh Government to support the economy of Wales over the last twenty years which have helped lead to:

a) 300,000 more people in work in Wales since 1999;

b) economic inactivity rates now broadly comparable with the UK average for the first time in history;

c) the proportion of working-age people with no qualifications more than halving since 1999;

d) the proportion of working age people with higher education qualifications increasing from around one-in-five people to more than one-in-three since devolution;

e) the numbers of active enterprises in Wales the highest on record.

2. Notes the Welsh Government’s plans to drive inclusive growth through the Economic Action Plan including the new Economic Contract, major infrastructure investment such as the new £5bn rail franchise and metro as well as the new £1bn Development Bank of Wales.

3. Recognises many of the economic concerns expressed in the EU referendum and the Welsh Government’s focus since publication of the Economic Action Plan in 2017 on nurturing the foundational economy as a driver for inclusive growth.

4. Recognises the fundamental importance of fair work to Wales’s future and the Welsh Government’s commitment to work in social partnership to make Wales a fair work nation.

5. Regrets the lack of UK Government investment in Wales over the last decade as well as cancelled rail electrification, rejection of tidal lagoon plans and failure to secure Wylfa project investment.

6. Expresses concern for the future of the Welsh economy post-Brexit.

7. Notes the failure of the UK Government to deliver detailed proposals or consult upon a new post-Brexit Shared Prosperity Fund to replace EU funding, given its place as a key component of the Welsh economy.