Following problems in the United States, leading economist Prof Milton Keynes of Abertridwr College of Life Long Learning has warned that Wales could run out of money by next Tuesday afternoon.
At a conference of leading economists of colleges of life long learning at the end of our street (formerly known as schools), Prof Keynes warned:
“I’ve been predicting this for years. Looking at the gross value added (GVA), Wales came in at around £44,517m (in 2010), making the Welsh economy the tenth largest of the UK’s twelve regions, Wales would appear to be wealthy on paper but a combination of events have caused this figure to fall.
“With the closure last week of the Brynglas Tunnels on the M4 following a fire, vital Welsh exports were unable to get to England and beyond. Some manufacturers of perishable goods such as the Clark’s Pie company are understood to have lost tens if not hundreds of pounds. Added to this, the Duke and Duchess of Cambridge are away in Scotland this weekend for Zara’s wedding and will not be spending any of the tax-payer’s money in the Spar on Angelsey for the next few days”.
Prof Keynes continued:
“It would only take a couple of yummy mummies in the Vale of Glamorgan to splash out on designer cup cakes for their children’s birthday parties or a few hundred hungry people of the lower orders to splash out at Greggs for instance, for Wales to completely run out of money by around the time ‘Escape to the Country’ is repeated on BBC2 on Tuesday afternoon.”
Prof Keynes concluded:
“Just look at commecial property prices, for instance you can’t even buy a Pound Shop in Merthyr Tydfil for a pound these days”.