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Economy Secretary, Ken Skates will announce this evening that a new Economic Action Plan will be published this autumn.

First published:
20 September 2017
Last updated:

This was published under the 2016 to 2021 administration of the Welsh Government

In a speech delivered from Deloitte in Central Cardiff Enterprise Zone, home of Wales’ thriving financial and professional services sector, the Economy Secretary will offer his view on the  major challenges facing  businesses over the next decade, including Brexit.

He will also provide more detail on  his plans for a new economic contract between government and business that will help companies to meet key challenges head on  and capitalise on available opportunities  to drive economic prosperity right across Wales.  

The Economy Secretary’s speech follows the launch of the Welsh Government’s overarching  national strategy “Prosperity for All”.

Ahead of his speech to the business community, Ken Skates said:

“The Central Cardiff Enterprise Zone is a major success story for Wales’ Financial and Professional Services sector and is  a really strong example of what can be achieved when the Welsh Government is listening to, responding to and working with the business community.

“And I am pleased to be speaking to business  from the Deloitte office at the heart of that Enterprise Zone. Deloitte are one of the many success stories of the Zone, having recently grown their Cardiff operation to a headcount of 750, making it their largest UK operation  outside London. 

“In my speech I will be focusing on what I perceive to be the major challenges facing Wales over the next ten years and beyond. From Brexit, through to productivity, inequality, our ageing population, climate change, automation and digitisation, the challenges are complex and broad. And none of them can be tackled by the Welsh Government alone.

“Our new overarching strategy Prosperity for All, which the First Minister launched today sets out a whole Government approach for a competitive and fairer economy that can help us increase health, wealth and wellbeing in all parts of Wales. 

“And this autumn I will be launching a new Economic Action Plan that will help us  work with the business community  to respond to these key challenges.

“The Plan  will be based around six  elements including  supporting people and business to drive prosperity, with a new economic contract between Government and Business, a simplified package of business support  and an emphasis on driving innovation. 

“It will focus on Wales’ place in  Britain and the World, building  on the successful Wales brand, and helping to develop new international markets and support our exporters, as we exit the EU, whilst strengthening cross border economic links.

“It will outline our plan to  deliver modern and connected infrastructure to meet the productivity challenge, set out how we move to a more regional model of economic development, and importantly drive sustainable  economic growth that helps combat climate change.

“Our future is intimately tied up with the success of our economy and  it  is  only by working with the business community that we can  build a stronger, fairer and more inclusive economy and country that benefits everyone.”