- Welsh Secretary champions advanced manufacturing in North Wales and sees first-hand how the sector puts more money in people’s pockets.
- UK Government’s economic growth mission delivers with £160m Investment Zone in Wrexham and Flintshire.
- Investment is part of the Plan for Change helping achieve the milestone of raising living standards for working people.
Welsh Secretary Jo Stevens has made it clear to North Wales business leaders that they will play a vital part in helping to grow the economy in Wales when she met them at Toyota on Deeside. The discussion with the leaders in advanced manufacturing is the latest in a series of roundtables chaired by the Welsh Secretary as part of her drive to deliver economic growth for Wales.
Last week Ms Stevens launched the Welsh Economic Growth Advisory Group, and she also met with leaders from the digital and tech industries in Wales. The previous week she met with the creative sector.
The group is working with the Welsh Secretary to inform the UK Government’s new Industrial Strategy to boost key Welsh industries, and shape Welsh priorities for the next Spending Review, both expected during spring 2025.
In the Autumn Budget the Chancellor confirmed £320m funding for two Investment Zones in Wales. The Wrexham and Flintshire Investment Zone is backed by £160m of UK Government money which will be used promote investment opportunities, create additional jobs, and drive economic growth.
Welsh Secretary Jo Stevens said:
I am focussed on growing the economy in Wales and ensuring that people have more money in their pockets. The advanced manufacturing sector in North Wales is a vital driver for growth.
Just last week the Prime Minister set out our Plan for Change with a clear mission to kickstart the economy and raise living standards for everyone.
My commitment to North Wales business is personal. It is where I grew up and I know how important it is for helping deliver growth and make a real difference to the people who live and work in this area.
Richard Finchett, Director of Toyota Motor Manufacturing (UK) Ltd, Deeside Plant said:
Since we started manufacturing engines in Deeside more than 30 years ago, Toyota has been proud to contribute to Welsh society and to high value employment in this region.
Advanced manufacturing including the automotive sector remains vital for a dynamic economy with its associated investments in people, skills generation and the wider community. Today’s UK Government’s Roundtable held at Toyota Deeside is an important step in the continued dialogue between business and government over our shared ambitions for economic growth, national prosperity and low carbon leadership across Wales.
John Whalley the Chief Executive of Aerospace Wales said:
I am delighted that the Prime Minister confirmed the UK Government’s £975 million investment in the aerospace sector on his recent visit to Airbus at Broughton. And I am pleased at the early signs of close co-operation with the Welsh Government and the statement of intent in the Industrial Strategy green paper. The aerospace and space sectors look forward to fruitful collaboration between the two governments and industry leading to greater prosperity for the people of Wales.
