Part of 1. Questions to the Minister for Economy, Transport and North Wales – in the Senedd at 1:50 pm on 26 February 2020.
I'm sure that we could spend the entire afternoon debating this important area of concern. The economic action plan has the dual purpose of driving down inequality within regions and across regions, but also to improve productivity. Our focus on the foundational economy is new, and it has immense energy attached to it because we recognise that we have to ensure that we protect living standards and that we give opportunities to those communities that have felt very distant from areas that have benefited from economic growth in recent times. But, equally, we are committed to developing the highest quality jobs that we possibly can across all parts of Wales. That's what, for example, the Tech Valleys project is aiming to achieve. It's what our interventions across the Valleys taskforce are aiming to achieve. It's what our intervention in projects such as the Advanced Manufacturing Research Centre is aiming to achieve. And if we look at the results of our strategic investments in recent years, we can stand proud. We've got unemployment rates at the lowest ever level—the lowest levels since records began. We see gross value added rising faster than most other parts of the UK, and household earnings as well have been increasing faster than the average in the UK. These are all signs that we have been investing cleverly, smartly and in the right areas.