Part of 1. Questions to the First Minister – in the Senedd at 11:32 am on 1 July 2020.
I thank the leader of the opposition for what he said about playing a constructive part in the response to the position faced in Airbus and the wider north-east Wales economy.
The analysis that we have of the Welsh economy, in the COVID context, is that it's quite complex. He'll have heard, I'm sure, today, the reports from Andy Haldane, the deputy governor of the Bank of England, that they think that the early signs are that a v-shaped recovery for many parts of the economy is under way—a sharp downturn, and a very sharp rebound. And we want to make sure that as much of the Welsh economy is able to recover as quickly as possible in that way. But there will be aspects of the Welsh economy where that will be more difficult—companies and industries who are not able to resume activity as quickly as others. And there, we are talking to the UK Government particularly about the long-term arrangements from the job retention scheme, which I've always welcomed in Wales. I've always appreciated what the UK Government has done, and understand that, as industries get back to work, you can't go on offering a furlough scheme to places where people are back working full-time. But in some sectors of the Welsh economy, we need a more specific, sector-specific furlough scheme that will go beyond the end of October. And that will offer comfort to those industries that they will still be able to sustain themselves through the difficult days of this calendar year, and be there to resume activity next year, when, as we all hope, things will be better.
So, we will mobilise the actions that we have, in consultation with business leaders. I was with the head of the Confederation of British Industry in Wales last week and with the head of the Federation of Small Businesses in Wales last week. There were very helpful suggestions from the CBI about how we could work together in mitigating some of the impacts on the Welsh economy, and then we will need help from elsewhere to be able to do the job that we all need to do, focusing on jobs, relentlessly on jobs, in our economy, during the second half of this financial year.