It won’t make any difference to tone deaf Labour Minister’s in Cardiff Bay who are unlikely to reverse the decision and plough on with the discredited Economic Renewal Plan plus, but it’s certainly worth mentioning another influential UK Business figure questioning the wisdom of former First Minister Rhodri Morgan’s decision, supported by other parties to take the WDA in-house to the Welsh Government which by most impartial analysis resulted in a worsening performance of the Welsh economy.
Digby Jones is a former Minister and head of the CBI, but more importantly in this context a former employee at West Midlands Development Agency in the 1980’s – one of the Welsh Development Agency main competitors, he spoke of the WDA’ s prowess in its quick response mainly due to a lack of political interference.
In his interview he said “When I was part of the West Midlands development agency in the 1980s, the best inward investment agency in Britain was the WDA. They were so far ahead of all the other development agencies.”
This was partly because they were “quick off the mark and could respond quickly,” and partly because they were non-political, he said.
“I think its demise should be lamented,” he added.
“If you want to make it more relevant to a changing investment criteria around the world fine, but to bring it inside the tent of party politics is no way to attract private sector investment from anywhere.”
The full interview is wide ranging and covers issues such as Corporation Tax and tax and borrowing powers for the Welsh Assembly and includes another rebuke to add to the First Minister Carwyn Jones growing collection on his borrowing powers only line, Digby points out that any borrowing need tax raising powers to compliment them in order for any debt to be repaid otherwise problem will arise.Any source
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