Mark Isherwood
North Wales Assembly Member Mark Isherwood has questioned the Economy Minister, Edwina Hart AM, over actions to boost private sector investment in Wales.
Speaking in the Chamber last week, Mr Isherwood asked the Minister:
“How do you respond to the statement last week by the Director of the Confederation of British Industry Wales that to set the right conditions to attract more private sector investment and reduce regulation, the Welsh Government, first and foremost, needs a whole-Government commitment to economic growth, measuring the performance of all departments by how they relieve the burden on businesses and support growth?”
The Minister replied:” I am very keen to listen to the views of the CBI, with which we have an excellent relationship. Across Government, we try to do what we can in terms of reducing the regulatory burden.”
The Minister also claimed “We have a range of policies, which have resulted in huge increases in inward investment projects and jobs. The UK Trade and Investment’s annual report for 2012-13 showed that Wales had captured 67 foreign direct investment projects, an increase of 191% on the performance reflected in UKTI’s 2011-12 annual report”.
Mr Isherwood added: “This Labour Government boast of a 191% increase in inward investment, but fails to say that this increase was from a base of just 23 projects, the lowest amongst the four UK nations, or that this involved just five new companies coming to Wales with Welsh Government involvement. In reality, Wales’ share of UK inward investment has fallen from 15% in the 1980s and 1990s to just 4% now, from top to bottom destination amongst the 11 nations and regions of mainland Britain”.
