The Welsh Conservatives have raised serious concerns following the publication of a new report which reveals that Wales ranks lowest in a comparative assessment of economic competitiveness across the regions of England and Wales.
The NICE Index (Networks, Innovation, Creativity and Entrepreneurship), developed by Professor Robert Huggins (Cardiff University) and Professor Piers Thompson (Nottingham Trent University), paints a troubling picture of Wales’s economic position. The report places Wales below every English region, with many Welsh local authorities languishing at the foot of the league table.
Prof. Huggins further states in the report that “Without urgent action to address these foundational deficits, Wales risks becoming permanently economically isolated from UK prosperity, with further devastating consequences for Welsh communities and national economic performance.”
Commenting Welsh Conservative Shadow Cabinet Secretary for Economy, Samuel Kurtz MS, said:
“For Wales to be below every other region in England shows the damage that Labour has done to our country.
“Under Labour, our economy is broken in Wales. It is unsurprising that due to 26 years of Labour in Wales, we rank bottom in the index of economic competitiveness.
“Wales deserves better, the Welsh Conservatives believe in a Wales that is open for business. We would remove the regulatory stranglehold on our economy by overhauling the current business rates system, abolishing rates for small businesses to revitalise our town centres, and axing the damaging Tourism tax. Only the Welsh Conservatives have the economic strategy to fix Wales.”
