Economy Secretary, Ken Skates will announce this evening that a new Economic Action Plan will be published this autumn.
In a speech delivered from Deloitte in Central Cardiff Enterprise Zone, home of Wales’ thriving financial and professional services sector, the Economy Secretary will offer his view on the major challenges facing businesses over the next decade, including Brexit.
He will also provide more detail on his plans for a new economic contract between government and business that will help companies to meet key challenges head on and capitalise on available opportunities to drive economic prosperity right across Wales.
The Economy Secretary’s speech follows the launch of the Welsh Government’s overarching national strategy “Prosperity for All”.
Ahead of his speech to the business community, Ken Skates said:
“The Central Cardiff Enterprise Zone is a major success story for Wales’ Financial and Professional Services sector and is a really strong example of what can be achieved when the Welsh Government is listening to, responding to and working with the business community.
“And I am pleased to be speaking to business from the Deloitte office at the heart of that Enterprise Zone. Deloitte are one of the many success stories of the Zone, having recently grown their Cardiff operation to a headcount of 750, making it their largest UK operation outside London.
“In my speech I will be focussing on what I perceive to be the major challenges facing Wales over the next ten years and beyond. From Brexit, through to productivity, inequality, our aging population, climate change, automation and digitisation, the challenges are complex and broad. And none of them can be tackled by the Welsh Government alone.
“Our new overarching strategy Prosperity for All, which the First Minister launched today sets out a whole Government approach for a competitive and fairer economy that can help us increase health, wealth and wellbeing in all parts of Wales.
“And this autumn I will be launching a new Economic Action Plan that will help us work with the business community to respond to these key challenges.
“The Plan will be based around six elements including supporting people and business to drive prosperity, with a new economic contract between Government and Business, a simplified package of business support and an emphasis on driving innovation.
“It will focus on Wales’ place in Britain and the World, building on the successful Wales brand, and helping to develop new international markets and support our exporters, as we exit the EU, whilst strengthening cross border economic links.
“It will outline our plan to deliver modern and connected infrastructure to meet the productivity challenge, set out how we move to a more regional model of economic development, and importantly drive sustainable economic growth that helps combat climate change.
“Our future is intimately tied up with the success of our economy and it is only by working with the business community that we can build a stronger, fairer and more inclusive economy and country that benefits everyone.”