Part of 1. Questions to the Minister for Economy, Transport and North Wales – in the Senedd at 1:52 pm on 3 March 2021.
Well, can I first of all say that it's only fair that I get an opportunity to highlight some of the great successes of the Welsh Government in the last five years in regard to transport and infrastructure and the economy? Prior to the pandemic, we had the highest rate of employment on record. We had the highest number of businesses in existence in Wales since devolution, and before devolution, it has to be said. Economic inactivity, quite phenomenally, was fast approaching UK average, and our GVA, our productivity, was improving faster than the UK average as well.
During the course of the pandemic, our focus has been on jobs and jobs and more jobs, and, as a result of that focus, we now have an unemployment rate in Wales that is lower than the UK average. There is still a long journey to be tread, but we have an unemployment rate that is below the UK average, and that is precisely because we've got a devolved Government that is focusing on employment. The difference between the UK average and the Welsh rate of unemployment demonstrates the value of our £2 billion investment in businesses, and that, in turn, through securing more than 140,000 jobs, represents 10 per cent of the Welsh workforce. It's a staggering success.
We've also established the Development Bank of Wales, which was promised in the manifesto and I think is now recognised as one of the most important assets we have in Wales. We also established Transport for Wales. We've nationalised the railways. We are steadily progressing metro programmes, but the metro programmes were never intended to be delivered in a single term; these are long-term objectives. Rome wasn't built in a day and the metros of Wales won't be built within a single administration term. But we are beginning the process of delivering them, both in north Wales and south Wales, and steadily as well in south-west Wales.
In terms of fast broadband, it's absolutely right to point out that this is a reserved matter, but we have been intervening with investment above and beyond what we receive from UK Government, and there have been significant improvements. And there continue to be significant improvements for our trunk road network, including on the A55. Many Members in north Wales will recognise the investment that's taken place there, with more to follow. But our focus in terms of transport, as highlighted by the Welsh transport strategy, will shift towards promoting active travel and public transport, making sure that as we invest in transport-related infrastructure, we do so in a way that grows a fair and more equal economy.