New figures see Wales remain at the foot of the table for GVA
Figures released by the Office for National Statistics today see Wales remaining firmly at the foot of the table of home nations for GVA.
The regional breakdown – published HERE – reports that Wales has the lowest GVA per head in the UK; at £17,573 (London had the highest with £42,666).
ONS stats show that on average every person in the UK generates around £24,616 per head (+4.6%). The Welsh average, meanwhile, is up by just 2.4% on 2013.
Commenting on the figures, Welsh Conservative Shadow Economy Minister, William Graham, said:
“It’s more than a decade since the Welsh Labour Government set a target of 90% for Welsh GVA as a proportion of the UK total, and Wales is going backwards.
“With 5% of the UK population, we are currently producing just 3.4% of the wealth. It’s a damning indictment of Labour’s stewardship of the Welsh economy.
“After 17 years of Labour rule in Wales families are still enduring lower take home pay and less job security than other parts of the country. “
Leader of the Welsh Conservatives – Andrew RT Davies – said:
“The picture for the UK as a whole is one of growth and optimism, which is clear evidence that the Conservatives’ long term economic plan is delivering for the people of Wales.
“Sadly, the legacy of 17 years of Labour rule under devolution is lower pay and weaker growth. Only the Conservatives can help Wales to reach its full potential and deliver security, opportunity and stability.”
