Narrowing Wales’ productivity gap was the focal point of discussions among Welsh business representatives at the Secretary of State for Wales’ Economic Advisory Board meeting today (19 November).
Chairing his first meeting since the General Election, Mr Crabb welcomed members of the group to General Dynamics UK in Newbridge. Those in attendance were challenged with reaching possible solutions on how Wales can reduce the productivity gap that exists between it and the rest of the UK.
In July this year, the Government’ launches its Productivity Plan, Fixing the Foundations. The plan aims to reverse the UK’s long-term productivity problem and secure rising living standards and a better quality of life for British people. The framework includes 15 key areas, built around two pillars: first, encouraging long term investment, and secondly, promoting a dynamic economy.
Secretary of State for Wales Stephen Crabb said:
Since 2010, Wales has been narrowing the productivity gap with the UK. However, it is still the economic challenge of our age and requires a truly national effort by government, business and working people.
It is only the private sector that can produce sustainable growth, create long-term jobs and make the Welsh economy as productive as it can be. That is why I wanted to gather businesses here today to see what practical steps can be taken to raise productivity in Wales and, as a result, deliver a more prosperous country.
During the meeting, the Secretary of State also took the opportunity to seek the views of the Board members on the UK Governments commitments on the package of Welsh devolution.
Notes to editors
- The Economic Advisory Board provides an opportunity for the Secretary of State to hear a wide range of views from across the business community so the Government can better understand what matters to businesses in Wales.