The fact that the Welsh Affairs Select Committee report on Inward Investment in Wales has caused such a fuss isn’t a surprise since its touches all of Labour’s weak points, poor use of millions of pounds of European Funds, a lack of sustained investment in infrastructure (that is slowly be addressed) and the abolition of the Welsh Development Agency that has seen 'Brand Wales' all but disappear from the international stage.
The summary of the report is below and the full report is here
'During this inquiry, we have identified areas of concern that have the potential to be major impediments to competitiveness and to productivity. Investment in skills and transport by the UK Government and the Welsh Government should sit at the heart of the economic development agenda. The UK Government and the Welsh Government must renew their efforts to promote science and engineering in Wales.
Transport infrastructure has been under-funded by the UK Government and the Welsh Government for a number of years. We welcome and support the Secretary of State for Wales in calling for the electrification of the Great Western Main Line to Swansea, and we call on the Government to announce plans to extend electrification of the line to Swansea at the earliest opportunity. There is a perception that the high cost of the Severn Crossings toll acts as a deterrent to inward investment in Wales. In our Report on the tolls, published in 2010, we noted that there was a lack of empirical data to confirm this view. The Welsh Government has commissioned an economic impact on the bridges' operation and future and we look forward to the publication of the report.
EU funding, alongside other innovation and research funding, represents an opportunity for Wales to invest in skills and infrastructure tailored to the needs of inward investors. These decisions need to take into account the opportunities existing in emerging markets both as a source of future trade and of investment capital. In addition, opportunities exist to increase Wales's global status through its extensive network of current and former overseas University students. This should be maximised.
Wales could be much more effectively marketed for trade and inward investment overseas. The Welsh Government currently has no dedicated trade promotion agency. As a result, the international recognition of Wales has suffered and investment opportunities have been missed. The Welsh Government must market Wales on the international stage more vigorously and must develop a clear identity that can be promoted to overseas markets, making the best use of the advantages that UKTI has in terms of resources and networks.
The abolition of the Welsh Development Agency (WDA) has reduced Wales's visibility in the global market place. Nearly five years on from its abolition, the WDA remains one of the most recognisable of all Welsh brands. Given the global recognition that the WDA brand commands, the Welsh Government must urgently consider how it can be used to improve and increase Wales's global identity. We recommend the establishment of a dedicated trade promotion agency, either sitting within the Welsh Government or as a private sector vehicle working in collaboration with the Welsh Government. Such a body should have a mix of skills with an emphasis on private sector experience.
The Welsh economy faces many challenges. However, it also has a number of strengths. Among these are a committed, loyal, and in places, highly skilled workforce which has demonstrated its willingness to adapt to changing and difficult circumstances. Wales also has a number of internationally recognised and successful companies in areas such as aerospace, life sciences, the steel industry and the automotive industry. The governments in London and Cardiff must continue to nurture these relationships and use them to attract other investors by demonstrating that Wales is an attractive place to invest. Wales should consider London a primary source of inward investors who already recognise the benefits of investing in the UK and may prefer Wales as a more cost effective and pleasant place to relocate.
There is no easy solution for changing the fortunes of the Welsh economy. Wales does not have sufficient resources to work alone in attracting inward investment to Wales nor the advantages that UKTI has in terms of resources and networks. We were disappointed that the Business Minister for Wales chose not to give evidence to this inquiry. The Minister's decision was a grave discourtesy to the Committee and to Parliament. The Welsh Government must engage with politicians in the UK Government to maximise opportunities to attract inward investment to Wales and so improve the long-term prospects of the Welsh economy. The UK Government and the Welsh Government must work together effectively, and work with education providers and industry, for the improvement of the Welsh economy and the Welsh people.'
Finally the fact that the Lib Dems have had to use their Opposition Time debate this afternoon (Wed 22nd) to make sure the damming report in to AWEMA published before half term even made it to the Chamber to be debated speaks volumes about the contempt the Welsh Labour Government has for Welsh democracy.
Would we accept this type of behaviour from UK Ministers, no we wouldn’t so maybe Carwyn Jones, Jane Hutt and Edwina Hart should face the music over Naz Malik and AWEMA rather than trying to make out that what is going on there is a one off instead of sweeping this ugly episode under the carpet again.Any source
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