A debate on Labour’s disastrous economic record
The UK Government’s clear plan and bold action to chart a course to secure future is working, with the inflation being cut from 11.1% to 2.3%, and the UK being the fastest growing economy in the G7. This has been pertinent in Wales, with regional growth deals right across Wales, along with Freeports, and investment zones.
Yet under the Labour Government in Wales, who are directly responsible for economic development, Wales has the lowest employment rate, lowest median wages, and the highest economic inactivity rate in the UK.
In the Senedd this Wednesday (12/06/24), the Welsh Conservatives are bringing forward a Senedd motion on the Labour Government’s disastrous economic record, and bringing forward our economic plan to create an environment for businesses to invest and create jobs.
Commenting ahead of the debate, Welsh Conservative Shadow Minister for Economy, Samuel Kurtz MS, said:
“A strong economy delivers strong public services, yet under the Labour Government in Wales, we have the highest economic inactivity, the smallest pay packets and the lowest business survival rate in the UK, so it’s little wonder that Wales has failing public services.
“Labour has no plan to grow Wales’ economy, to get people into work, to boost wages for Welsh workers or to support Welsh businesses, yet Keir Starmer calls this his “blueprint” for government.
“In the Senedd this week, I look forward to bringing forward our Welsh Conservative debate to reverse Labour and Plaid’s slashing of business rates relief, and to create an environment for businesses to invest and create jobs in Wales.”
The motion which will be debated on Wednesday reads:
To propose that the Senedd:
1. Welcomes:
a) the UK Government’s clear plan and bold action to chart a course to a secure future;
b) the UK Government’s action in cutting inflation from 11.1 per cent to 2.3 per cent;
c) the UK being the fastest growing economy in the G7;
d) the regional growth deals in every part of Wales, making Wales the only Growth Deal nation in the UK; and
e) the UK Government’s Freeports in North and South Wales, along with investment zones for advanced manufacturing.
2. Regrets that under the Welsh Government, Wales has:
a) the lowest employment rate;
b) the lowest median wages; and
c) and the highest economic inactivity rate in the UK.
3. Calls on the Welsh Government to create an environment for businesses to invest and create jobs by:
a) levelling-up across Wales with proportionate levels of investment in all parts of the country;
b) reinstating business rates relief to 75 per cent for the retail, hospitality and leisure sector to support businesses and protect jobs;
c) abolishing business rates for small business;
d) enabling micro businesses to grow with a jump start scheme paying the employer national insurance for two employers for two years;
e) delivering 150,000 new apprenticeships over the next Senedd term; and
f) creating and fully funding a local business kickstarter scheme to support start-ups.
