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'New approach' to Welsh economy 'New approach' to Welsh economy
(about 2 hours later)
Businesses are being urged to "get involved" in what the assembly government is calling "a new economic approach for the country". Businesses in Wales are being urged to "get involved" in what the assembly government is calling "a new economic approach for the country".
Deputy First Minister Ieuan Wyn Jones said he would change the way the assembly government supported business.Deputy First Minister Ieuan Wyn Jones said he would change the way the assembly government supported business.
He will outline his approach at the North Wales Economic Forum in St Asaph, Denbighshire, on Friday. He will outline his approach at the North Wales Economic Forum in St Asaph, Denbighshire, later.
Business organisation CBI Wales said it strongly supported Mr Jones' review but more needed to be done. Business organisation CBI Wales said it strongly supported Mr Jones's review but more needed to be done.
Mr Jones, who is also economy minister, will explain how the assembly government's economic renewal programme will "change the way" it provides support to businesses. Mr Jones, who is also the economy minister, will explain how the assembly government's economic renewal programme will "change the way" it provides support to businesses.
He will call on businesses to get involved in the process.He will call on businesses to get involved in the process.
The deputy first minister is right to look at how he spends the economic development budget, but this alone will not be enough CBI Wales director David Rosser The deputy first minister is right to look at how he spends the economic development budget, but this alone will not be enough David Rosser, CBI Wales director
Speaking ahead of the event, he said: "There is no doubting the Welsh economy has been through tough times and by working together will we achieve recovery and renewal.Speaking ahead of the event, he said: "There is no doubting the Welsh economy has been through tough times and by working together will we achieve recovery and renewal.
"We have been working hard to develop our economic renewal programme, which aims to position the Welsh economy to be able to face the demands of the modern world and compete in high value markets.""We have been working hard to develop our economic renewal programme, which aims to position the Welsh economy to be able to face the demands of the modern world and compete in high value markets."
He said the approach needed to change so that it was "focused more on developing the right skills of our workforce and encourage world-class research and development".He said the approach needed to change so that it was "focused more on developing the right skills of our workforce and encourage world-class research and development".
"We are looking closely at how we provide support to business and how we use every penny of our £240m economic development budget to make sure it is effective," he said."We are looking closely at how we provide support to business and how we use every penny of our £240m economic development budget to make sure it is effective," he said.
"My aim is a complete culture change - to bring about real, sustainable investment to the Welsh economy. We want to create jobs and industries that are here to stay and benefit all parts of Wales.""My aim is a complete culture change - to bring about real, sustainable investment to the Welsh economy. We want to create jobs and industries that are here to stay and benefit all parts of Wales."
'Can-do''Can-do'
Figures this week showed the unemployment rate in Wales over the three months before February rose to 9.2%, higher than any other nation within the United Kingdom.Figures this week showed the unemployment rate in Wales over the three months before February rose to 9.2%, higher than any other nation within the United Kingdom.
CBI Wales director David Rosser said the CBI "strongly supports" the assembly government's decision to "look afresh at how we tackle our economy".CBI Wales director David Rosser said the CBI "strongly supports" the assembly government's decision to "look afresh at how we tackle our economy".
He added: "The deputy first minister is right to look at how he spends the economic development budget, but this alone will not be enough.He added: "The deputy first minister is right to look at how he spends the economic development budget, but this alone will not be enough.
"We need every part of the assembly government, and every minister, to put economic growth at the front of their decision making."We need every part of the assembly government, and every minister, to put economic growth at the front of their decision making.
"This is as much about a responsive and can-do planning system, an education system that equips every young person for the world of work, and a 21st Century infrastructure, as it is about business support."This is as much about a responsive and can-do planning system, an education system that equips every young person for the world of work, and a 21st Century infrastructure, as it is about business support.
"I urge north Wales companies to make their feelings known as part of this process.""I urge north Wales companies to make their feelings known as part of this process."