Higher Paid Sectors

Part of 1. Questions to the Minister for Economy – in the Senedd at 2:18 pm on 1 December 2021.

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Photo of Vaughan Gething Vaughan Gething Labour 2:18, 1 December 2021

We don’t have a definition of what you mean by higher paid. We certainly think that our tax base in Wales is in the wrong shape. We need more people who are higher rate taxpayers. That’s both by growing the economy here in Wales, investing in skills and people, as well as understanding what we can do in some of those sectors where we have particular expertise in different regions within Wales. It’s why we've invested so much time and effort as a Government in having a proper framework for regional investment, because we think that will make a real difference. It’s why we’ve been proper and constructive partners in city and regional growth deals. There’s been a real response from businesses, local authorities and, indeed, trade unions on the mission that we have within the Government.

It’s why I’m interested in what we do to make sure that young people don’t need to leave the country—'You don’t need to get out to get on' has to be a reality, not just a slogan—and also why we’re interested in seeing if we can persuade more people to actually found themselves and their businesses here in Wales. There are real opportunities to do so. I’m not going to have a hostage to fortune in having a particular percentage indicator on growth. It’s about how successful we can be in doing what the mission of the Government sets out—to have a fairer, more prosperous and more sustainable Wales. I’m confident that, by the end of this term, we will have done just that.