A cross-party and cross border group of local authorities and businesses are gathering in Newport today to launch a Plan for Sustainable Development which aims to add an extra £250 billion to the UK economy by 2050.
The plan is being launched at the 2024 Convention for the Western Gateway, bringing together 700 business, university and local leaders to define how the area can create growth whilst reaching Net Zero, supporting innovation, protecting nature, increasing investment and improving public transport.
It comes in the same week as the UK’s International Investment Summit, and in response to the Prime Minister’s National Mission for economic growth.
Speaking at the Newport event will be Rebecca Evans MS, Welsh Cabinet Secretary for the Economy, and Dame Nia Griffiths MP, Parliamentary Under-Secretary of State for Wales.
The plan sets out how South Wales and Western England can deliver against the Prime Minister’s national mission for growth by increasing investment, unleashing innovation, connecting communities and improving the area’s recognition worldwide.
It also calls on both UK and Welsh Government to partner with this cross-border region to achieve this growth with thirteen practical asks.
This work has been led by the Western Gateway, the Pan-Regional Partnership for the area. The partnership has recently published independent research which shows that the cross-border area is likely to be the fastest growing region outside of London over the next five years, adding an extra £11 billion to the economy every year. It also showed that on average businesses across the area misses out on between £3-9 million of private sector investment every year when compared with other areas.
The plan is backed by a cross-border and cross-party group of local leaders and businesses.
SSE Energy Solutions, the UK and Ireland’s leading energy infrastructure expert, are sponsoring the Convention. They are part of SSE, a leading electricity infrastructure company, which has announced plans to invest up to £40 billion in the UK and Ireland over the next decade.
At the event, the company will announce their support for the work of the partnership through a new agreement with the Western Gateway.
Nathan Sanders, Managing Director for SSE Energy Solutions, said:
“Strategic collaborations, like our new partnership with the Western Gateway, are vital to accelerating the net zero transition and delivering meaningful social value for communities across the UK.
“By leveraging our collective industry expertise and resources, we can fast-track the deployment of affordable, clean, and reliable energy solutions for communities and businesses throughout the Western Gateway, stimulating sustainable economic growth and creating green jobs.”
Sarah Williams-Gardener, Chair of the Western Gateway, said:
“This plan powerfully demonstrates that the Western Gateway is ready to help provide the solutions to support the Prime Minister’s national mission. Supported by business and our local authorities, this plan demonstrates the art of the possible and offers the UK and Welsh Government tangible opportunities to partner with our area to deliver growth for our communities.
“Our plan is promoting grass root solutions which can help unblock routes to new investment, support our innovative economy and better connect communities who are at risk of being left behind. I look forward to working with both Governments to deliver on our potential over the years to come.”
Cllr Huw Thomas, Leader of Cardiff Council and Vice-Chair of the Western Gateway, said:
“It is great to see our Plan for Sustainable Growth be published.
“Our board brings together 28 local authorities with business and academia and demonstrates how our cross-border area can deliver more for our communities. We know we have huge potential working together as the fastest growing economic area outside of London.
“Based on evidence, this plan demonstrates that we as a region are ready to be partners with Governments in both England and Wales to provide the solutions to deliver for our economy.”
Later this month the partnership will be holding another event to launch the Plan for Sustainable Growth in Westminster to help support the calls for Government to partner with regions across the UK.
