Labour government must finally publish delayed economic strategy
Wales’ economy will be left exposed unless it publishes its own economic strategy, Plaid Cymru has warned.
The UK Government has today published its economic strategy, focusing on five key elements it believes are needed to increase productivity. Plaid Cymru Shadow Cabinet Secretary for Finance and Economy Adam Price said that the UK Government had set out its own priorities, which would bypass Wales’ needs.
Adam Price said that the Welsh Government’s foot-dragging on publishing an economic strategy would now cost Welsh businesses dearly. The Welsh Government has continued to push back the date of publication of its own economic strategy, which was due to be published in the spring of 2017.
Plaid Cymru Shadow Cabinet Secretary for Finance and Economy Adam Price said:
“It was already important for the Welsh Government to publish its economic strategy, having pushed its publication date back by more than six months, but now it’s crucial. As the UK Government publishes its economic strategy today, focusing on its own priorities, Wales is left exposed by a government that can’t get its act together enough to produce its own.
“First intended to be published in spring 2017, the Welsh Government’s long-awaited economic strategy has so far failed to materialise. Meanwhile the Welsh economy has gone backwards with productivity and wages declining. The Welsh Government needs to introduce its own targets and identify its own areas for growth so that we can scrutinise its performance.
“Today the Welsh Government announced that it would open five new overseas offices to encourage trade post-Brexit. Enhancing the Welsh Government overseas is crucial for boosting trade, but evidence shows that unless it is part of a wider economic plan then it will not have any effect.
“The government lacks strategic thinking when it comes to the economy and as a result the business community in Wales has been left in limbo. It’s time for a strategic plan for the Welsh economy.”