8. Statement by the Minister for Economy: The Young Person’s Guarantee

Part of the debate – in the Senedd at 5:42 pm on 16 November 2021.

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Photo of Vaughan Gething Vaughan Gething Labour 5:42, 16 November 2021

Yes, I'm happy to do so. I did actually deal with Paul Davies's question, in that I indicated that I'd have a further announcement to make on the detail of that support, but I also indicated that I was looking at previous practice that had had some success on a number of start-up grants, as well as the business support that is provided as well. It isn't just the money; it's the actual support and the guidance people get as they look to set up their own business, particularly people setting up in business for the first time. One of the key factors in some of the challenges within the labour market at present is we've seen lots of small businesses cease trading right across the UK. It's not just a challenge here in Wales. We know that's a key part of actually growing and having a successful economy: new business growth and the numbers of people running successful small businesses. I will have more to say, but I'm not going to try and prejudge an announcement that will be coming in the weeks ahead.

On regional skills partnerships, though, they're already going to lead engagement activities. I covered this in some of the statement. They're going to work with the businesses and stakeholders, so businesses and providers of qualifications, skills, education and training. They're going to hold a minimum of two events in each of the regions, and they're going to gather together and work with my officials to understand what business feedback there is, what provider feedback there is, and we'll look to match that up with the direct engagement we have with young people as well, to try to make sure that we understand what's needed within that particular region for the skills challenges they have, and how we're best able to meet that. But of course this does come back to our ability to do so; we're still dependent on our understanding of where funding is. If the Welsh Government is going to be excluded from funding that in the way we have done consistently for 20 years, then the least we would expect is that the manifesto promises that have been made, on not losing out on any of that funding, are actually met. I'm afraid, at the moment, the budget settlement from the UK Government doesn't give us confidence that's going to take place. So, there is a real challenge here, in both the sums of money but then how the money is used. And on how we would want the money to be used, we have a good way of working with partners, and I'm pleased to see you highlight the role regional skills partnerships have, because I think that's a really important way in which we can do business here properly in Wales.