Following analysis by the Party of Wales of official statistics revealing that Welsh average earnings lag behind the the UK average, the Party of Wales Shadow Economy Minister Rhun ap Iorwerth has called for a focus on driving up Welsh productivity levels.
He said that Wales has a productivity problem rooted largely in low levels of capital stock, a peripheral location and generally low qualifications. He said Plaid Cymru is working to counter this on the three fronts, by developing innovative funding solutions for businesses, by pressing for more infrastructure investment, and by focusing on skills training and apprenticeships to ensure that the workforce has the skills that Welsh businesses need.
Official statistics show average gross earnings in Wales at £492 per week, £68 (12%) per week lower than the rest of the UK.
The Party of Wales Shadow Economy Minister Rhun ap Iorwerth said:
“When we compare data on the jobs market and economic growth accross Wales and the rest of the UK, there is a clear trend that shows Wales does relatively well in job creation, but poorly in terms of economic growth. This can be explained by the fact that Welsh wages are generally lower than wages in the rest of the UK, and to stop this trend we need to bring better-quality and better-paid work to Wales.
“The government must play a key role in making this happen. Plaid Cymru has put forward proposals to help businesses access finance and develop. The Build4Wales scheme proposed by Plaid Cymru and adopted by the Welsh Government will do just that, as will Plaid Cymru’s plans for a Bank of Wales.
“Plaid Cymru also delivered over 2,000 higher level apprenticeships through our budget deal with the Welsh Government, and we want to continue this by focusing on skills training so that the future workforce has the skills that businesses need.
“While unemployment has fallen in Wales, these have largely been lower-paid, lower-skilled jobs. Plaid Cymru wants to create jobs that match the workforce’s ability, to put Wales on the road to success.”
