Shaping a new economic strategy for Wales

Cardiff Business School’s Executive Education Breakfast Briefing series welcomed Caerphilly AM Dr Hefin David on Thursday 14 September 2017, for an insight into the creation of a new economic strategy for Wales.

Dr David, who represented Welsh Labour, was elected to the Welsh Assembly in 2016 and is a member of the Children, Young People and Education Committee and the Economy, Infrastructure and Skills Committee.

Addressing a mixed audience of business leaders, policymakers and industry representatives, Dr David spoke about the need for a new economic strategy for Wales, built on the foundational economy.

The Breakfast Briefing, held in advance of the Welsh Government’s publication of its ‘prosperity’ strategy, provided an insight into some of the committee sessions and research on new ways of stimulating economic growth and development.

Dr David’s talk focused on the foundational economy and the fourth industrial revolution, areas that he, and other new Assembly Members, had identified a gap and felt presented a number of opportunities. He also talked about regional growth deals, balancing growth, infrastructure development, and place-based inequalities.

Key to Dr David’s talk was an overview of committee debates held in recent months concerned with Wales’ current economic model and position. He also outlined the findings of a range of research sources on the strengths and weaknesses of the Welsh economy, highlighting areas under consideration for development. Time was spent discussing economic realities and how the Welsh economy can be more flexible and adaptable to change, whether technological, industrial, political or cultural.

There was an engaged debate during the Q&A session where topics included ‘buying Welsh’ and encouraging people to use Welsh products, suppliers and companies, as well as the importance of tying economic strategy into planning and infrastructure policies.

Missed the briefing? Catch up now.

The next Executive Education Breakfast Briefing - The Business Benefits of the Living Wage - will take place on 9 November 2017.

Find out more and book a place.

Read Welsh Government’s Prosperity for All programme.