Economic Situation: Wales

(asked on 21st May 2025) - View Source

Question to the Wales Office:

To ask the Secretary of State for Wales, what assessment she has made of the adequacy of the level of performance of the Welsh economy.


Answered by
Jo Stevens Portrait
Jo Stevens
Secretary of State for Wales
This question was answered on 3rd June 2025

Growth is the number one mission of the government. I have worked with UK and Welsh Government colleagues to drive over £1.5 billion in private investment from the likes of Eren Holding and Copenhagen Infrastructure Partners into Wales. We are creating tens of thousands of jobs in every corner of Wales through our Freeports, Investment Zones, support for steelworkers, inward investments and our thriving green industries.

Our new Industrial Strategy is central to the Growth Mission and will channel support to eight growth-driving sectors – those in which the UK excels today and will excel tomorrow. The Strategy will play to Wales’s sectoral strengths, including Advanced Manufacturing, Clean Energy, Life Sciences and Creative Industries.

My department has been working closely across UK Government and the Welsh Government on the Industrial Strategy. I have also established the Welsh Economic Growth Advisory Group, a group that brings together business, industry, university and union leaders to discuss key economic topics across Wales.

The positive impact our UK and Welsh Labour Governments are having is clear in how the Welsh economy is changing. Unemployment fell significantly last quarter. And, since we came into office, real wages have continually increased while interest rates have been cut four times. We are creating jobs and putting more pounds in the pockets of working families across Wales.

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