The Economy Minister, Ieuan Wyn Jones, has signalled a major shift in assembly government business priorities. In future he said there will be a radical shift from offering large grants to multi-national companies to move here to building up research bases instead.
The Welsh Liberal Democrat Shadow Economy Minister, Jenny Randerson AM welcomed the new direction but said it involved a lot of work:
“After 27 months in the job, it’s great that Ieuan Wyn Jones has finally got round to recognizing the fundamental flaws in the Welsh Economy: low skills, low wages and a workforce that is all too often seen by big employers as expendable.
“He has some serious questions to answer about how long it has taken him to get a grip with this. His excuses about the Transport plan taking up the first part of his time in office justify our argument that this department is too big for one man.
“It is also telling that he is making his case right at the time when his government has slashed the Economic Development budget for next year, so it may well be difficult to deliver his promises.
“What Welsh businesses and employers want is action – action on skills, cutting business rates, and making Wales a good place to invest. Warm words are well and good but in a week when Labour and Plaid have not only slashed the economy budget, but the FE and HE budgets as well, it will be impossible to create a high skill, highly investable economy.”
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