Defence Spending (Wales)
Debate between James Gray and Geraint Davies(14 years ago)
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Mrs James
I thank my hon. Friend—and I include the north Wales prison on my list.
We are already witnessing the impact of the Government’s dithering, delay and abandonment. Last week, business confidence in Wales dropped severely from 22.4 points last quarter to 6.3 points. Scrapping the St Athan project was mentioned explicitly as a “significant dampener on confidence”. That is hugely worrying, and demonstrates the huge risk in the coalition’s assumption that the private sector will provide jobs for those in the public sector who become unemployed. For Wales, the stakes are even higher. Public investment plays a greater role in our economy than in England, and our business sector is much more fragile. As our Labour First Minister in Wales, Carwyn Jones, has said, the spending review is clearly regressive. The human and social impact could be both devastating and wasteful, and the real cost could be with us for generations. It further demonstrates how the Government are pursuing cuts with a scale, scope and speed that risk Welsh jobs, Welsh growth and Welsh recovery, and puts the squeeze on the most vulnerable in our society.
Geraint Davies (Swansea West) (Lab/Co-op)
Does my hon. Friend agree that a strategic investment of the magnitude that we are talking about would have a major multiplier effect on inward investment in Wales? I am talking about not just visitors and tourism, but the clusters of aero-industry, and encouraging early rail electrification, which has been delayed. Such measures work together in harmony for Wales, and without them the opposite applies.
Mr James Gray (in the Chair)
Order. I am sure that the hon. Lady will not allow herself to stray when responding to that intervention.